It’s hard to find work out there. Recent unemployment numbers show that nearly one in every 10 Americans is out of a job, and more folks are struggling to make ends meet. And unemployment brings with it a host of other problems. You may find yourself behind on car insurance and mortgage payments, which in turn can cause your credit score to drop.
To add insult to injury, new reports indicate that more employers are now checking credit reports for new hires. As many as 60 percent of employees are now checking credit scores, up from 19 percent 15 years ago, according to the Dayton Daily Times. This leads to a Catch-22 of sorts: If you have a low credit score because you’re unemployed, you could find yourself unemployed even longer.
“I just cringe,” Richard Emmons, a human resource specialist, told the Dayton Daily News. “Credit reports just aren’t that accurate. The information gathering is so sloppy that it’s very common to get mixed information on the same candidate from the different credit reporting agencies.”
Companies say a bad credit history is a sign of unreliability. However, given the high number of unemployed workers, it may be the reports themselves that are unreliable in today’s tough economic times.
In July, the unemployment rate in the U.S. reached 9.5 percent, according to statistics from the Labor Department. Without a steady income, many Americans have grown concerned that borrowing may hurt their 
People who stay unemployed for an extended period of time often can’t stay on top of credit card payments. They lose access to new credit and get written off, which means they’re no longer included in statistics describing the credit market. Card lenders have also adopted stricter standards, making it harder for new clients to find themselves in credit trouble.
