Tuesday, September 11, 2012

Economy's long slump pushing many down the ladder

Jim Vavrek has experienced a lot of firsts in the last few years, and that has not been a good thing.
There was the first time he had his water shut off because he couldn’t pay the bill, and the first time he looked into applying for food stamps because he didn’t know how he could afford to eat.

And there was the first time he realized that despite insurance coverage, he still owed thousands of dollars from his late wife’s short fight with cancer – bills he could not afford to pay. “It’s amazing how fast everything happens,” Vavrek, 50, mused recently, as he drove from his job in New Brunswick, N.J., to his home in Point Pleasant, N.J.
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The commute was about to become a memory – Vavrek had just learned that he was going to lose the $13-an-hour contract job he’d landed about a year and a half ago. It had been a big financial step down from when he made $70,000, plus a bonus, several years ago, but at least it was a paycheck. Read more >>

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