Economic and job recovery will persist, and the slow pace of growth will be insufficient to make much progress in lowering Chicago’s high unemployment rate in the coming year, PNC Bank said in a new study. The Chicago Tribune reported on October 8, 2011, that small and midsize-business owners in Chicago are less optimistic about the economy and prospects of a recovery in the short term.
After 23 percent of the 150 business owners surveyed in the spring said they were optimistic about their company’s prospects for the next six months, the most recent study found only 14 percent reported feeling optimistic. Conversely, the Tribune reported that 53 percent of participants interviewed between July 26 and Sept. 12 felt pessimistic about the local economy, compared with 39 percent in the spring.
Furthermore, results also revealed that 38 percent of local business owners plan to raise their prices, and 92 percent of that group said they are doing so “to avoid a profit squeeze from higher costs,” according to the Tribune.
Is this starting to sound familiar? Have you seen your income decrease while seemingly every other cost of living increases? You should know that if you are struggling through hard times, a bankruptcy means test can help you achieve an affordable bankruptcy now. Our Chicago bankruptcy attorneys can answer all of your questions surrounding the Chapter 13 and Chapter 7 processes and determine which filing will help you eliminate bills and stop foreclosure. If you want to get deserved relief today and end creditor harassment, contact our office now to set up a free consultation.
Benjamin Brand Services – Chicago bankruptcy lawyers