Subscribe to Dollars & Sense magazine. Recent articles related to the financial crisis. Unemployment Insurance Running OutUPDATE 6:31 PM:Responding to the massive public outpouring as a result of our earlier blog post, Congress rushed through an emergency 13-week extension of jobless benefits. President Bush is expected to assign the legislation immediately. Original post from 2:23 PM: According to the latest Economic Snapshot by the Economic Policy Institute (EPI), the massive spike in jobless claims coincides with the expiration of unemployment benefits for millions. From EPI:  Over 890,000 unemployed workers already have exhausted their 13-week extension, and another 1.2 million are projected to exhaust benefits by year's end.3 Without these benefits, the Congressional Budget Office finds that about 50% of the long-term unemployed fall under the poverty line.4 Congress should act swiftly to extend benefits for another seven weeks in all states, and an additional 20 weeks (for a total of 33) in states with unemployment over 6.0%. Labels: EPI, unemployment, unemployment benefits
Comments:
After 43 wks have not found a job. My $405 taxable NYS unemployment benefits run out in three weeks and after that how will I pay my morgage. Perhaps the banks can give me a bonus or the government can realize that the benefits are keeping families from drowning.
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 : Saturday, January 03, 2009 7:07:00 PMLinks to this post: << Home |
