According to an article in the Star-Telegram, the unemployment rate rose in January 2009 in 99.7 percent of cities tracked by the Labor Department. By comparison, in January 2008 unemploymentt rose in only 63 percent of the cities tracked. And the economy continues to sour as the high number of job losses is expected to send the unemployment rate soaring above 10% nationwide.

Many experts even suspect that the Obama administration’s $787 billion stimulus package won’t do much to stop the brewing storm of unemployment that is touching every major city in the country. Not only are the number of job losses rising; but the time that a worker remains unemployed is becoming longer and longer, putting stress on the current unemployment benefits safety net.

There’s not much that an individual can do to stop job losses; but there are some actions a worker can take to be prepared. If you are currently employed, don’t wait until you hear rumors of job losses to take an honest look at your finances. If you have a lot of debt, are struggling to pay your bills and are unable to save any money, you may want to consider your Chapter 13 Bankruptcy options.

Chapter 13 bankruptcy is a great option for wage earners to repay their debt under reasonable terms and within a reasonable amount of time. If you face a job loss while in Chapter 13 bankruptcy you may be able to convert your case to a Chapter 7 Bankruptcy and discharge the debt. The important thing for each debtor whether are jobless or unemployed, is that they know what their bankruptcy options are, before a crisis occurs.