According to a recent Bloomberg article, the number of first-time unemployment claims experienced a significant reduction recently.
During the week ending May 7, claims fell by 44,000 to 434,000 overall. While still high, the declining unemployment figure could boost national confidence and increase incomes nationwide. In fact, Bloomberg relays that U.S. payrolls have been on the incline for seven straight months.
"These numbers are consistent with the consumer continuing to spend and the recovery continuing to gain traction," said Conrad DeQuadros, a senior economist at RDQ Economics in New York. "The only problem is that we’re digging out of a very deep hole in employment, so the unemployment rate will probably remain elevated."
In Houston, the unemployment rate has experienced its own decline, as 50,700 more jobs were available in the region during February 2011 - a 48 percent year-over-year increase. This jump led to a healthy number of construction starts for Houston properties during the quarter, which totaled 3,700.
As unemployment rates continue to fall, the increased confidence of consumers could continue to improve the real estate market nationwide, especially now that the average price for homes is the lowest its ever been, according to Clear Capital. 
Courtesy of 2M Realty News