Unemployment bumped up slightly in more than half of the U.S. during August – news that may continue the strong rental demand that has been evident nationwide in recent years.
Government data showed that unemployment rates rose in 26 states, fell in 12 states and the District of Columbia and remained steady in 12 states. The Bureau of Labor Statistics reported that at this time last year, 42 states and the nation's capital experienced unemployment decreases, seven had increases and one stayed level.
With the third round of quantitative easing approved, the Federal Reserve Bank stated it hopes to lower unemployment by consistently pumping money into mortgage-backed securities.
For rental property managers, more unemployment likely means fewer households feeling financially secure enough to purchase a home, leading to further rental application forms coming in.