Will Unemployment Reach Double-Digits?

June marked the highest unemployment rate in 26 years - 9.5 percent, according to the U.S. Labor Department. Even more concerning is that many of the jobs lost were in industries that tend to be lower-paying, such as service, manufacturing, retail, and construction.

In other words, job losses are affecting those who were probably living paycheck-to-paycheck.

According to the National Alliance to End Homelessness, unemployment remains among the most common reasons for homelessness. This is according to surveys in select communities collected during the annual point in time count (surveying for 'reason for homelessness' is not required, so data isn't available for every community).

There is silver lining, however (if that's what you want to call it). The $1.5 billion bucks in stimulus funds for homeless service providers is slowly starting to trickle down to communities for dispersal. Since the funds are being directed towards homelessness prevention and rapid rehousing, this will undoubtedly help keep vulnerable people and families from having to become homeless in the first place.

But, on the flip-side, the question remains: Without a steady source of income, how long can a household resist the inevitable?

The Obama Administration expects the unemployment rate to exceed 10 percent in the coming months, but insists the economic stimulus plan is starting to show results. Federal Reserve Chairman Ben Bernanke predicts the U.S. economy will begin to lift out of the recession by the end of this year, and that employment figures often lag behind.

I hope they're right. In the meantime, let's hope that the homeless prevention dollars have their desired immediate effect.