Unemployment claims jump by 9,000

According to the Labor Department's recent data, the number of jobless claims increased significantly during the last week.

Overall, 9,000 more unemployment claims were made during the week ending June 18, pushing the total to a seasonally adjusted 429,000. This figure was well above the forecast of many economists, who had predicted an average of 415,000 for the week.

As a result, Bloomberg recently recorded a drop in its Consumer Comfort Index, which fell from minus 44 to minus 44.9 during the week.

This national trend has been noticed in several major metropolitan areas as well, such as Houston.

A recent report from the Texas Workforce Commission revealed a higher jobless rate in the region during May, as it increased to 8.2 percent. The higher level of unemployment is interesting for Houston, as it has been one of the most successful nationwide in terms of job creation.

The national housing sector, much like the Houston real estate market, could continue to suffer if unemployment rates stay high and fewer potential homebuyers come to market.

Courtesy of 2M Realty News