Although the number of folks filing for first time unemployment benefits dropped in May, the numbers rose once again in June. As a result, last week the U.S. Labor Department reported that the unemployment rate had risen to a 26 year high of 9.5 percent.
In addition, many economists are predicting that the "jobless rate" will rise to 10 percent before the year is over.
One by-product of the high unemployment rate has been an increase in the numbers of folks becoming homeless – particularly families. (more…)