Job losses continue to rise. This makes it look worse for homeowners as they continue to fear to lose their jobs if they haven’t already. The nation’s unemployment rate is at 8.5 percent when it was at 8.1 back in February. March had increasing numbers of unemployment losing more than 663,000 jobs. The average person works a little more than 33 hours a week. This is a new all time low. April is expected to only get worse.

There were 51,000 jobs cut in February and in January there were more than 740,000 jobs lost. Since December of 2007 there were more than 5 million people who lost their jobs. After the month of March the numbers increased to a staggering 13 million.

With more jobs that continue to disappear, it becomes more evident that companies are closing at a drastic rate. Companies that have been open for more than 20 years are closing their doors. This can be frightening especially when jobs are scarce and it isn’t easy to find work anywhere else especially if you have been making a large amount of money for a period of time. Mortgages continue to fall behind as more and more people lose their jobs which will continue effect the economy.