LI foreclosure rate swells, nation sees decline

? The latest foreclosure and unemployment numbers show a mixed picture of Long Island?s economy.

Despite a report that things are looking better for homeowners across the nation, more Long Islanders are losing their homes to foreclosures. And while Long Island?s unemployment rate is up from a year ago, it still remains below the national average.

On Long Island, foreclosures jumped 3.5 percent in Nassau and rose just over 1 percent in Suffolk, according to RealtyTrac.

Long Island?s unemployment rate hit 7.4 percent in September, up 2.3 percent from a year ago.

Long Island Association?s Dr. Pearl Kamer says she expects the economy to begin recovering in about a year.

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