Large Unemployment Spike Reported by U.S. Labor Department

Planned layoffs by U.S. companies rose 68 percent between March and April, signaling continued labor market deterioration. The recent layoffs approach the total cuts announced in September, 2006.

Unemployment benefits claims increased by 35,000 the last week of April. The increase was more than the 18,000 that private economists predicted. The labor market continues to be strained by a weak economy. An estimated loss of 70,000 jobs is expected for the fourth consecutive month.

The increasing jobless rates, escalating fuel and food costs are all but strangling the mortgage industry, pushing the Foreclosure rates to unbelievable heights. Without sufficient income, more home owners are being forced out of their homes and into apartments, living with family or friends, or in some cases, homeless shelters.

Even with those alarming numbers, there are still many home owners we can help Prevent Foreclosure on their homes using loss mitigation. You can help us reach them by visiting PreventForeclosure.net.

Jim Hutchinson