In an unprecedented year marred by constant tumult -- a raging pandemic, widespread business and school closures/layoffs, a battered economy, racial strife, a bitter election -- it's nice to disconnect from it all and take a moment to give thanks for the people who enrich our lives, even if we may not be able to celebrate the holiday with some of them in 2020 due to COVID-19 restrictions.  I'd like to wish you and yours a happy, safe, and blessed Thanksgiving.  Thanks for giving up some of your time over the course of the week/month to read, share, and comment on my posts. You guys rock, and I mean it from the bottom of my heart.  There's a reason I aim for variety in my choice of content/messaging. It's my hope that the more sobering posts offer comfort and valuable tips to those going through tough times, and that the lighthearted ones -- from silly puns to funny memes -- elicit laughs at a time of great uncertainty.  Our lives may be far from perfect, but we still...

Because of the sweeping layoffs and closures caused by the coronavirus pandemic -- the effects of which were felt as early as March -- the economy is bruised and battered. The question on everyone's mind is, of course, how these turbulent economic conditions may affect them. Here are three things that are likely to remain higher than usual for the foreseeable future: 1. Unemployment. Looking to get a better job? With over 40 million Americans filing for unemployment during the pandemic and the real jobless rate purported to be at a staggering 24%, you might be better waiting out the economic storm. While the number of weekly jobless claims has dropped eight straight weeks since topping out at 6.9 million in April, it still marks 10 consecutive weeks with claims exceeding 2 million. To put this in perspective, before the coronovirus prompted the shutdown of  businesses across the U.S., weekly U.S. unemployment claims had averaged 218,000. Needless to say, those applying ...

These unprecedented economic times are turning normal shopping and saving patterns on their heads. Whether you work in hospitality or healthcare, finance or education, you've surely felt the effects either in your industry or in your personal life. Overall, U.S. retail sales dropped by a record 16.4% from March to April as business shutdowns caused by the coronavirus shellacked stores big and small. Unfortunately, many were already in a precarious state pre-pandemic thanks to stiff competition from Amazon. Nearly $1 of every $5 spent at retailers last month went to non-store retailers, signaling a definite shift toward online shopping. With exception to online, not a single retail category was spared in April. Furniture stores and appliance/electronics stores absorbed whopping losses of 60% or more. Car dealers saw a plunge of 13%. Even clothing retailers have been walloped. Clothing-store sales sagged 79% and department stores 29%. In recent weeks, J.Crew, Neiman Ma...

There's no question we've been living in a different world the last couple of weeks -- one that has upended our routines and made Zoom meetings, food delivery, and shopping for virtually everything through Amazon our new, sometimes unpleasant reality. No event has felt this disruptive and widespread since the global recession of 2008. While back then we were dealing with a global financial crisis, this time, as President Donald Trump put it, we are grappling with an invisible enemy. So just how will the world be different once this pandemic is behind us? As was the case with the Great Recession, people are going to retrench for a while. From souped-up cars and big vacations to fancy clothes, consumers are going to put the kibosh on high-end purchases until they feel that (1) the economy is mending (2) their financial affairs are in order. The first order of business for many will be finding a job. Those who have been fortunate enough to still have jobs may be contem...

As most of us have been spending a great deal of time at home lately amid the threat of the coronavirus, it has afforded us the opportunity to stop and reflect -- something we seldom find the time to do in the hustle and bustle of our regular lives. Perhaps you're now considering finally making a career change you've been mulling for years. Maybe all the sobering talk of recession has you dreaming up ways to save or invest money. Or, spending more time with your partner has brought you closer together -- or driven you further apart -- raising questions about your future on the love front. Nonetheless, here are four lessons to be learned from these unprecedented times: 1. It's the little things that matter. We get so caught up in trivial matters -- when the next iPhone is coming out, who the neighbor is cheating on his wife with -- that we lose focus of the things in life that truly count. Spending an extra hour each day playing with your daughter. Finally gettin...

At the time of this writing, confirmed global cases of coronavirus surpassed one million. The world is grappling with an unprecedented pandemic -- the likes of which most of us have never witnessed before in our lifetimes. COVID-19 has claimed close to 53,000 lives throughout the world, and that number is  expected to surge in the next week or two. Nearly 6,000 people have died in the United States alone -- well over 2,000 more casualties than China. Italy still leads with a staggering 14,000 deaths, followed by more than 10,000 reported in Spain. The coronavirus has sent markets reeling and caused businesses big and small -- from bars and restaurants to theaters and hotels -- to shut their doors and lay off or furlough workers. Indeed, the outbreak is taking a heavy mental and financial toll on everyone from medical staff on the front lines to entrepreneurs to stay-at-home moms. A whopping 10 million Americans applied for unemployment benefits in March. Some experts ...

If you caught President Barack Obama's emotionally charged Farewell Address last night, you likely cried of joy or sadness depending on your political affiliation. I don't want to get in the weeds of politics in this post. Instead, I want to drive home the point that whether you love Obama or hate his guts -- whether you agree or disagree with him on issues of great significance ranging from the economy to healthcare -- you have to concede that he is classy, eloquent, and boasts a beautiful family. Most people on both sides of the aisle would acknowledge that while President-elect Trump is also bright and has a lovely family, he's nowhere near as polished and articulate as the outgoing president. But as the outcome of the 2016 election clearly demonstrated, many people are tired of political correctness. They're willing to excuse Trump's bombastic, unfiltered style so long as he makes good on his promises -- creating jobs, building a wall, and so on. Wheth...

According to the latest job report, the economy added 161,000 in October, effectively dropping the unemployment rate to 4.9%. Taken together with the fact that jobs added during the previous month were revised up considerably by the Labor Department, this suggests that the economy is keeping a steady pace. Though the drop to 4.9% is only a slight one on a month-to-month basis, we've come a long way since 2009, when the unemployment hit a whopping 10.2%. What's more, October's gains signaled the 73rd consecutive month of job gains for the U.S. economy. The September job gains were revised upward to 191,000 jobs from the initial tally of 156,000. Moreover, wage growth, which has been anemic for the better part of the post-recession years, continued to show signs of improvement. Wages increased 2.8% in October compared to a year ago, the fastest growth since June 2009. Donald Trump, the Republican presidential candidate, isn't buying it. He has repeatedly called ...

We're a couple of days into November. Before we know it, Christmas and the end of the year will be upon us. What are you most looking forward to this month? Some people say it's Thanksgiving. The most budget-minded among us await Black Friday with great anticipation. Still others are preparing giddily for colder weather. I'll be frank: While Thanksgiving is surely one of the things I am looking forward to the most, it doesn't sit in the top spot in my book. That distinction belongs to Election Day! I can hardly contain my excitement as I write this but, indeed, it all ends -- finally -- in three days. While there's no doubt we'll continue to see Donald Trump and Hillary Clinton in the news well after Tuesday -- no matter who becomes president -- it's a relief to know that one of the nastiest elections in American history is drawing to a close at last. I think most of us have grown very tired of the mudslinging and want a winner to be declared...

Guess what's in style again? That's right -- shopping. CNN Money reports that retail sales rose 1.3% in April compared to the prior month -- the largest monthly gain in over a year and a promising sign that the U.S. economy is improving after a disappointing first quarter. But people aren't opening their wallets and swiping their credit cards for everything. Right now, beauty products, sporting goods, cars, and eating out at restaurants is the rage. Clothes and electronics, on the other hand, aren't as popular this spring. Investors fear that buyers just aren't excited about new clothing and accessories. Consumers also have a clear preference for shopping online, as evidenced by Amazon, whose stock hit a record high this week above $700 a share. Traditional big box stores like Macy's, whose stock tumbled 18% this week, are in dire straits. Some economists say that people shouldn't read into the bump in sales too much. They say the gains in April sa...

U.S. companies didn't do much hiring last month. According to the Labor Department's latest report, only 160,000 jobs were added in April -- considerably fewer than the 197,000 jobs economists had anticipated. As a result, the unemployment rate stayed at 5%. This has many people worried that the U.S. economy has slowed, despite two years of strong hiring. The disappointing report adds fuel to the argument that 2016 has gotten off to a slow start. And we all know that when the U.S. economy is mired in a slump, it has serious implications for the rest of the world. I check the job boards every so often and still don't see as many positions available now -- at least not in my industry -- as in 2007, right before the recession struck.  Still, many Americans have begun looking for work in recent months, hopeful they can find better-paying opportunities. April saw a decent lift in wages -- which grew 2.5% annually -- but that's still below the 3% to 3.5% tha...

If you have the means to buy a new home and are in the market for one, now's the perfect time to do it. Why? The average 30-year fixed rate mortgage dropped this week from 3.72% to 3.65%, its lowest point in 10 months. This makes six consecutive weeks that mortgage rates have dropped. Despite the Federal Reserve's decision to raise interest rates at the end of last year, mortgage rates have continued to slip. Volatility in financial markets fueled by concerns of a global economic slowdown and the falling price of oil have made investors gravitate towards U.S. Treasuries, which has kept rates low for prospective home buyers. Though it was speculated that the rate hike could come in March, Federal Reserve Chair Janet Yellen said market conditions have become less conducive to growth, which could point to a delay in the Fed's plans to raise the federal funds rate. The average rate on a 15-year fixed rate mortgage also fell to 2.95%, down from 3.01% the previous week....

Every now and then, I search jobs in my industry on sites like Indeed.com, just to get a sense of how many jobs are being created. If my research is any indication, the job market remains sluggish. But you wouldn't know this from the stats reported by major news outlets. Earlier today, CNNMoney reported that America boasted 5.6 million jobs in December, slightly lower than the all-time record of 5.7 jobs set in July. The report adds that the number of job openings now is almost three times the 2.1 million available during July 2009. During the recession, employers could pick and choose employees, as there were few job openings and plenty of available workers. Per outlets like CNN, the tables have mostly turned now: there are ample jobs but a dwindling number of workers. Unemployment dropped to 4.9% in January, the lowest rate in 8 years. Still, I'm just not seeing a glut of jobs available, at least not locally. Perhaps the winds of change have not yet reached every part o...

For the past five months, real estate magnate Donald Trump has led all but two national polls of the Republican national primary. On Wednesday, a CNN/ORC poll found him with his largest lead yet: a 21-point advantage over Senator Ted Cruz (R-Texas), who himself has been surging in the polls of late. Trump was up three points from CNN's last survey in November. Many people are still asking themselves how this bombastic businessman could maintain frontrunner status this long. Trump has sold much of the Republican primary electorate on his ability to tackle the issues most concerning to Americans, with the economy and foreign affairs among them. Perceptions of his electability, favorability, and strategy on key areas have all improved considerably over the past six months. In many of these cases, he has seen dramatic shifts with the GOP electorate. Here are some of the findings: In December, 72% of registered Republicans view Trump favorably compared with only 51% who vie...

Despite an improved economy, job seekers are still finding it difficult to land jobs, but little do they know that they might be sabotaging themselves by failing to do two things: 1. Tailoring their resume and cover letter to every job listing they respond to: Sending out the same generic resume and cover letter for every job application is a recipe for disaster. You have to be sure that many of the keywords contained in the ad are listed on your resume -- after all, some of these companies screen the resumes for these very keywords, and if the document lacks too many of them, it'll likely be tossed in the trash bin. Different jobs call for different skill sets; while some employers may want experience in budget forecasting, others may desire candidates with experience in sales. Obviously, you want to do this without stretching the truth too much . For example, I don't recommend stating that you're an expert at Photoshop if you've never even used the program. You do...

December 2007 marked the start of what would become the worst financial crisis since the Great Depression. At the height of said recession, the economy was hemorrhaging jobs at an unprecedented rate. Business were shuttering. Layoffs were touching virtually every industry. The situation was bleak, and it seemed like the sky was going to fall down.  Slowly but surely, we've come out of it, and now the worst appears to be behind us. Consumer confidence has rebounded in a big way, with consumers forking over big bucks on everything from dining and entertainment to cars and homes. When I conduct searches on CareerBuilder and Indeed.com, I see twice -- if not three times -- as many listings for jobs in my field as I saw just a few years ago. Unfortunately, though, real wage growth remains non-existent, and there are still far too many people out of work. Some people fear it might be another 5-10 years before the economy is in full swing again. Although things have improved, who...

Great news for job seekers and those looking to leave their companies for new opportunities: Per government data released Thursday, unemployment has dropped to 5.3%, surpassing many economists' expectations. We haven't seen the rate this low since April 2008. Hiring has picked up all across the board. From financial services to healthcare, employers continue to add jobs to their ever-increasing payrolls. The great news was tempered by the fact that wage growth remains stubbornly stagnant. Still, more jobs mean more opportunities for people to go back to work, which translates into more money in their pockets. This, in turn, will spur spending and stimulate the economy. After all, consumer spending accounts for 70% of the U.S. economy. How do you feel about the news? Do you feel the economy is improving? For previous entries, please click here:  How to Understand People