Los Angeles, CA (PRWEB) July 03, 2013
Alana Semuels, noted economic journalist, reported last month that California’s unemployment rate had fallen to 9% in April. This was a decrease from 9.4% the month before. These figures represent positive economic development, but many industries are still posting considerable declines.
Economists predict that California will experience a stop-and-start recovery. The information sector, professional and business services, and government sectors posted marginal growth, but few other parts of the economy have seemed to rapidly rebound.
A major factor plaguing the state’s economy is related to residents’ hesitancy to spend. Consumer confidence is rising, but retail sales grew just 0.1% in April.
Alan Whitman, managing director of Morgan Stanley Wealth Management in Pasadena, CA, said, “The public is saving at a higher rate than we want them to save. It’s taking a long time to get their courage back.”
People are simply worried about the security of their wealth. They want to make sure that they have money in the bank for retirement and emergency purposes.
Stagnant wages for those at the bottom of the pay scale could also be affecting the desire to spend. Workers in industries such as retail and fast food have not seen their pay increase over the last year.
Specifically in Los Angeles County, the most densely populated county in the state, only 200 jobs were added over the month of April. Many of these positions do not offer competitive wages. Although job creation is a welcome relief, people are looking for available opportunities that can sufficiently pay the rent.
In addition to grim prospects, jobless residents are seeing their unemployment benefits shrink and their resources being scaled back due to federal budget cuts.
Due to the fact that many residents are struggling to find well-paying jobs and afford basic necessities, car title loans are growing increasingly popular. Californians turn to Los Angeles Car Title Loans when they need an instant, secure loan.
A car title loan is based upon the current value of the borrower’s vehicle. Lenders do not perform credit checks, so the approval process is streamlined and efficient. With flexible repayment plans and competitive interest rates, it is the perfect solution for residents who need fast cash.
Los Angeles Car Title Loans encourages job seekers to use a car title loan to finance their pressing monetary needs.
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