A New Horizon Foresees Opportunity for 80,000 New Hires to Get Out of Debt

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Unemployment Drops to 9 Percent in October. The Department of Labor reported that last month American employers added 80,000 new jobs.

A New Horizon Credit Counseling 1-800-556-1548

A New Horizon Credit Counseling 1-800-556-1548

“Without a regular income stream, it is very difficult for an organization like ours to assist a consumer to get out of debt”, adds Marcus,

The Department of Labor reported that last month American employers added 80,000 new jobs. Although new job creation is moving at a slower pace than September and August, the unemployment figures dropped to 9 percent from 9.1 percent in September, offering some encouragement that the job market is beginning to recover. A New Horizon Credit Counseling Services is a nonprofit debt consolidation organization that has been helping consumers for over 20 years.

Two separate surveys are consulted to make up the monthly job report, one for employers and another for households. While the employer survey is showing only 342,000 jobs created since the end of July, the household survey is showing the economy added roughly 1 million jobs over the same period.

Stephen Marcus, President of A New Horizon Credit Counseling, a non-profit credit counseling and debt management firm says, “New job creation, however it is calculated, presents a unique opportunity for the formerly unemployed or under-employed to get out of debt”. He adds, “Huge debt is created when a person is unemployed. This cannot be corrected easily just by starting a new job. Credit counseling with a sound debt management plan, and the creditor benefits they provide, can accelerate paying off all the debt”.

There remains a lot more to be accomplished. The labor market still needs to regain 8.8 million jobs that were lost to the recession. 13.9 million Americans remain unemployed with 42% of them out of work for 27 weeks or longer. And, government jobs are still being lost, mostly at the state level.

Keith Hall, Commissioner with the Bureau of Labor Statistics, reported that the economy needs to add at least 130,000 jobs each month to keep up with population growth alone.
“Without a regular income stream, it is very difficult for an organization like ours to assist a consumer to get out of debt”, adds Marcus, “so it is critically important that once someone regains employment, they contact a credit counseling organization like ours and take advantage of the programs we have to consolidate and repay the debt to their creditors, and improve their credit ratings”.

A New Horizon Credit Counseling Services is a nonprofit debt consolidation organization that has been helping consumers since 1978. For more information about their programs, contact 1-800-556-1548. They can also be found on the web at http://www.anewhorizon.org, or reached via email at slieberman(at)anewhorizon(dot)org

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Stuart Lieberman
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