AARP Finance - It is no wonder that The USA Car Industry is in trouble, as The United Auto Workers have in place a Job Bank which guarantees laid off auto workers 95% of their base pay if they are laid off. The Union agreed yesterday to suspend this job Bank system at GM which is due to run out of money by the end of this month.
Job Loses are continuing to grow with Job cut announcements jumping to nearly 182,000 in November, up 61% from October and up a whopping 148% from a year ago.
Now is the time to for AARP members to buy stocks, although the market will still bounce up and down perhaps for a further month, but long term gains can be expected. It may take shares 3 years or more to replace lost paper value, but with stocks a low value there are good long term prospects.