By Joy Pleasant
(Real Estate America)
Unemployment claims are on the rise. The week of Oct 18, 2007 showed a significant trend in rising applications filed to recieved unemployment benefits. Due to the housing market crisis, buisness owners are more reluctant to hire and people are finding themselves displaced from their jobs. Jobless claims rose to 28,000 in Febuary and now has spiked to 337,000 in the week that ended Oct 13. This will definetely affect the U.s. economy and GDP,(Bloomberg, 2007).