| Many Unemployed to Lose Benefits Sooner Than Anticipated |
| May-29-2012 |
| Keywords: Drone, Terrorist, Obama |
Despite the fact that Congress voted to extend unemployment benefits until the end of 2012, unemployed people in 23 states will stop receiving their checks up to five months early. Part of the extension was a reduction the in the weeks the extended benefits would be available.
The National Employment Law Project estimates that by the end of next month, nearly half a million Americans will have lost their federal unemployment benefits early.
Those facing long-term unemployment are expected to suffer the most. Over 5 million Americans have been without a job for longer than a year and a half.
Meanwhile, states are tightening restrictions for those seeking to qualify for unemployment benefits at the state level. Many feel that continuing to extend jobless benefits reduces the opportunity cost of joblessness, or that extending benefits has failed to lower the unemployment rate significantly.
Although the unemployment rate is down to 8.1%, that is still far above normal levels, and the job market remains difficult for potential job-seekers.
Read More: U.S. Winds Down Longer Benefits for the Unemployed |
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Posted by Lou Dobbs Staff at 3:00 AM Email to a friend |
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