(PRWEB) June 04, 2012
As reported by MSNBC.com, new claims for unemployment benefits rose again in the latest week, raising worries that the labor market growth was stalling. The Labor Department released data Thursday that seasonally-adjusted claims increased by 10,000 to 383,300. It was the fourth week in a row that claims have risen.
The four-week moving average, considered by many experts as a more accurate gauge of labor market conditions, increased by 3,750 to 374,500. The prior week’s figure was revised up to 373,000 from the previously reported 370,000. Economists polled by Reuters, had forecasted claims unchanged last week. This marks the seventh increase in unemployment benefits during the last eight weeks. Although most of the increases were marginal, the steady increase could add to the concerns raised by April’s disappointing 115,000 gain in nonfarm payrolls.
Of bigger concern is the continual slow development of the economy and its effect on the housing industry. Lance Denha, Esq. of The Law Offices of Lance Denha commented that “Should the labor market continue to decline or remain stagnant, those households that were hoping to see an opportunity to again become employed may now have exhausted all their savings in an effort to keep their homes from going into foreclosure or perhaps falling further behind.”
Earlier this month, RealtyTrac noted that the continued job losses and the overall economy appear to have manifested itself into another foreclosure wave for struggling homeowners. Foreclosures now are a direct result of the difficult economic times homeowners are suffering from as detailed by 4closurefraud.org founder Michael Redman. Lance Denha noted that “The new face of the U.S. housing crisis is the middle class, suburban or rural with a conventional 30-year mortgage at a reasonable interest rate, but is unemployed or underemployed.” Although the national unemployment rate has fallen to 8.3 percent from its peak of 10 percent in October 2009, nearly 13 million Americans remain jobless, meaning many more are struggling to keep up with their mortgage payments.
It is highly advisable to seek legal expertise to determine the best course of action moving forward in order to gain an understanding of the particular direction best suited for the client. The Law Office of Lance Denha P.A. is committed to ensure that every possible avenue is pursed so that the homeowner’s legal rights are preserved. Actively monitoring the ever changing landscape of foreclosure laws, recent foreclosures across the nation as well as state imposed rules and procedures associated with foreclosure, is vital to ensure and protect these rights. The Law Office of Lance Denha P.A. is a multistate law firm and helps legally defend wrongful foreclosures against homeowners and utilize any and all legal tactics available to help accomplish preserving homeowner’s rights. For further information or assistance, please call at 954-840-0770.