The latest from Golden State Law Group, San Diego bankruptcy and injury attorneys.
There are many different variables that experts will look at when they are attempting to measure the progress or lack thereof with regards to an economy. One of the main variables that will lend some tangibility to the confidence that consumers are feeling involves taking a look at retail sales. Unfortunately, the latest reports are not bringing good news, as retail sales in the United States fell for the second straight month in May.
Specifically, overall retail sales across the country fell by a factor of 0.2 percent, which matched the drop that occurred in April. Unfortunately, this drop represents the biggest slump in two years. Most people blame the drop in these retail sales on waning consumer confidence with regards to their security. This has much to do with the stagnating unemployment rate and the sluggish wages that are not growing like many would have hoped when a recovery was announced in recent months.
When people are not spending money, it’s because they are not feeling secure in their overall position. When they are not secure in their overall position, those businesses that depend on their spending suffer. When those businesses suffer, people will eventually lose their jobs as a result. This vicious cycle can and has come together in the recent past to leave millions of people in dire situations there they feel as though there is no way out from under the stress they are enduring.
Despite all of these reports of an economic recovery, millions of people continue to suffer greatly. No one is happy when every day of life is consumed by running from creditors and wondering how the next month’s bills will be paid. Anyone who is experiencing this situation needs to take immediate steps to bring about an end to it as soon as possible.
If you are ready to put this stress in the past for good, you need to seek the help of San Diego bankruptcy lawyers who have helped thousands of consumers through this difficult situation. Contact the Golden State Law Group today to schedule a free initial consultation.