One way some people may try to find help with their debt problems is by taking on additional work.
For example, people in the past may have considered a second job tied to the holiday season. However, a recent report from the Associated Press notes that many professionals are finding themselves taking on such retail work as their primary profession as the job market continues to be difficult.
“You’ll find Wall Street stock brokers and small business owners trying to find temporary retail jobs during the holidays,” Ellen Davis, vice president with the National Retail Federation, told the AP.
Of course, increased levels of unemployment mean it is even difficult to find a job in sectors like retail. As a result, many overqualified workers are vying for few positions. Furthermore, difficulties for retailers and the prospect of a weak holiday shopping season are leading to many stores paring down their workforce, making jobs that much more scarce.
However, recent numbers from the government indicate the tide may be turning for unemployment. The jobless rate in the country dropped from 10.2 percent in October to 10 percent in November. Though the drop may be encouraging, many experts still think the unemployment rate will remain above 10 percent for much of 2010