The job site Indeed just released its Job Postings Index. As of October 31, the number of job postings was the lowest since February 2021, down 6.5 percent from last year.
Amazon, UPS and Target recently announced layoffs that will total 60,000 this year.
Factors impacting the job market include decisions made in Washington, natural disasters, consumer shifts and, of course, companies quickly embracing AI as a way to cut costs.
The slowing job market and overall economic uncertainty are important factors when considering whether to suggest a structured settlement to a claimant.
Income Security. A structured settlement annuity provides guaranteed income during troubling economic times.
Claimants know they will receive a steady, guaranteed, lifetime stream of income regardless of market or economic conditions now or in the future. If they lose their job, money continues to come in. If an injury prevents the claimant from working, they have peace of mind that no matter what, their income won’t be affected.
Remember, a structured arrangement must be agreed upon before a settlement is finalized. That’s why it is important to discuss structuring options early in the settlement negotiations.
For questions about structured settlements, please feel free to give me a call, or contact me.
Pat Farber
Recent Comments