Weekly 5: Consumer borrowing surges


Photo Credit: Images_of_Money, brianDhawkins, Flickr

Christopher Gerber (CGerber@BoatingIndustry.com)
July 8, 2013
Filed under Top Stories, Weekly 5

The BI Weekly 5 is a collection of tips, news and data affecting the boating industry this week. Be sure to look for the BI Weekly 5 every Tuesday on BoatingIndustry.com.

1. Consumer borrowing surges

Job growth, higher wages and a recovering housing market had consumers confident enough to borrow money at a higher rate in May.

U.S. consumers borrowing increased $19.6 billion in May, according to the Federal Reserve. That was well ahead of expectations. The figures include items like credit card purchases and borrowing for auto loans, but not mortgages or home equity loans.

2. Small biz hiring falls

Despite several months of job gains, small businesses are not hiring at the same pace, the National Federation of Independent Businesses reported.

Eleven percent of small businesses added employees in June, while 12 percent reduced unemployment, according to the NFIB. The net result was a decline of .09 employees per firm after a .04 decline in May.

3. 5 legal tips before layoffs

If your company is one of those letting people go instead of adding them, FindLaw offers 5 tips you should think about before implementing layoffs. With wrongful termination suits being all-too-common, it’s important to make sure you lay the appropriate groundwork before job cuts.

4. Arkansas boating deaths already higher than 2012

With nine boating-related deaths already reported in 2013, the state of Arkansas has already surpassed 2012 figures, according to state officials.

Most of the deaths could have been avoided if the victims were wearing life jackets, officials said.

5. Grow your Google+ engagement

Ahh, Google+ – the social network that no one knows quite to do with. As we’ve written about frequently, Google+ is important if for no other reason than its SEO power. In this article, Social Media Examiner has five pieces of advice for improving your Google+ engagement and making it more effective for your business.


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