Salvation Army Kettle Drive/Unemployment Still High


by Kit Menkin


Santa Clara -- New claims for unemployment benefits plunged last week to the lowest level in four months, providing a dose of encouraging news for workers who have been feeling the strain of the uneven economic recovery. The stock market, desperate for any good news, went wild.


Note: those not reporting they are seeking employment, by filing out the form of places applied, or those no longer eligible for unemployment insurance, are not being counted.


Remember when we could say, You never saw the rough days we had

in leasing.


Unemployment still appears not as serious in all areas, unless you are the one

who is not employed.


Certain areas of the country the figures remain at 7.9% to 10% unemployed.. Holiday jobs are reported to be scarce for students. Last year in Santa Clara Valley, bell ringers for the Salvation Army were hard to find, and according to Captain George Roscheleau, , homeless were put into service. This year there is a waiting list of 200 in San Jose alone at minimum wage for the Salvation Army's only annual fundraiser bell ringing kettle drive. You will see them on the street on Friday. Please contribute as this is their

only fund raiser and 98% goes toward helping people, not to administration.


While the housing market appears healthy, there is a very strong inventory of homes for

sale, and real estate agents call the market "soft." Commercial firms call the retail

and commercial rental market " non-existent," and complain they fell like the Maytag

repair man, waiting for the telephone to ring.


Many companies are planning two week vacation period, paid or non-paid in December.

Thanksgiving week will be slow as many companies instead of closing at noon on

Wednesday, will not be open at all.


The busiest day of holiday shopping, but the sixth lowest one day sale, will be

Friday, after Thanksgiving day. Many retail stores started their Christmas sales

in October with prices getting cut every day that merchandise does not move.


Those in the leasing industry report they have never seen business slower.

Brokers who say they had 17 applications a week, say they are lucky

to get two to three with many small vendors completely out of business.

Credit appears to have deteriorated, too.


The 30% depreciation allowance or capital allowance call for delivery this

year, which means if it is on the floor for immediate delivery means to push

the "capital lease," perhaps one of the last of the year business tax write-offs

( of course, you first have to have a net profit to take advantage of this "savings.")


Look for more major leasing companies to be closing their door before Christmas.

No bonuses this year.



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