The Bureau of Labor Statistics announced that the U.S. economy lost 131,000 jobs in July 2010. Private employers added only 71,000 jobs, while the Census eliminated some 143,000 temporary positions. The report highlights a work loss that is greater than headlines suggest. Without the temporary Census hires, the economy merely added 12,000 jobs, far below the 200,000 new jobs required each month to effect the unemployment rate. Housing prices are expected to further decline in the next months. The recent extension of unemployment benefits may prove only a temporary band-aid with the bleak jobs outlook. Individual savings rates increased marginally and additional savings of household disposable income is encouraged.
The U.S. trade deficit unexpectedly widened in June by a record $7.9 billion as imports rose and shipments abroad declined. The $49.9 billion gap was the biggest since October 2008 and followed a $42 billion shortfall in May, Commerce Department figures showed. Exports dropped by the most in more than a year. The economic forecast for 2010 and 2011 appears to indicate further downward trends.
Tips for increasing your savings:
1) Walk or ride a bike if your destination is under two miles. If your community has sidewalks and bike lanes, use them whenever possible. The gas savings and health advantages are great.
2) Cook at home and use the fruits of your gardens and orchards whenever available. Sell, share and swap with others garden and orchard overflow. Learn to freeze and can extra fruits and vegetables for off-season consumption.
3) Plant fruit bearing trees and vines whenever possible when landscaping; Pecan, apple, walnut, fig, grape, raspberry and blueberry are popular trees and vines; always call your local agricultural extension service or growers to identify the best local varieties.
Many municipalities and local governments are opting for non-ornamental plantings in parks and roadway projects in favor of indigenous plants that offer wildlife and passer-bys food resources. Many municipalities are offering set-aside lands free for community and private garden and orchard projects to local schools, non-profits, Scouts and 4-H, civic and church groups and groups of private citizens. County and state fairs are seeing increased interest and attendance, as are local gardening clubs. Restaurants are buying locally and changing menus to reflect seasonal market availability to increase bottom-lines. Government consumer spending trackers indicate purchases such as high-end jewelry continue to decline.
sedonaeye.com Editor’s note: Have local savings tips and or ideas to share with your community and neighbors? Add your comments and suggestions below!
