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As if the economy wasn’t bad enough, the Labor Department reported today, that the jobless rate  in the U.S. rose to an alarming 6.5% in October. It would seem from all indications that this economic downturn still has a long way to go, before we see any serious relief.

The average consumer is really starting to feel the pinch of higher costs for everything from groceries to  their electric  bill. It’s no wonder that Americans  are spending less  at their favorite  stores, and more at Walmart & Costco.

Higher prices are making it even more difficult for low income families and those on a fixed income, to meet their everday needs. Meaning more and more people are going to be faced credit problems, when they have to decide to by milk or pay the credit card bills.

Luckily we’re seeing at least some temporary relief on the energy front, but anyone who has gone to the grocery store lately can clearly see the results of inflation at work. Just look at pasta, an American staple, the price has more than doubled in the last year. That’s equivalent to over a 100% inflation rate. It would be one thing if there was a suitable alternative, but how can you replace pasta, when every substitute has increased as well.

It might be time to think about planting a garden next year, or other ways to offset food and living expenses, because by next summer many more of us may likely to be jobless if we’re not already.

~Gary

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