Have you seen the economic recovery? I haven’t either. But it is bound to be around here somewhere, because the National Bureau of Economic Research spotted it in June 2009, four and one-half years ago.
The latest budget deal does not extend unemployment benefits for some of the long term unemployed. This means without some Congressional action, unemployment benefits will only be available for 26 weeks in 2014. The current average time to be officially unemployed is 37.2 weeks, far exceeding the time one can receive regular unemployment insurance benefits in most states.
The Wall Street Journal's headline asks, "Are Jobless Benefits Leading to Higher Unemployment?" But in the very first paragraph in their story they answer their own question with A new paper from the Federal Reserve Bank of Boston suggests the answer is no -- or at least not much. So then, why does the WSJ ask? Why not just use the headline of this post?
President Obama introduced his so called jobs plan, spending $447 billion. 51% of this is tax cuts, 31% is infrastructure and local aid and 14% of unemployment insurance. Firstly, it has been shown time and time again, tax cuts do not create jobs. We just showed one would be better off hiring people to cut grass with scissors than enact a payroll tax cut. The payroll tax cuts alone are $240 billion, or over half of Obama's plan.
Remember the 99ers in this 60 Minutes report? People with PhDs, Masters degrees, hard working, highly trained and educated, years of quality work experience.....who cannot find a job?
A New York Times article headline flashes Contesting Jobless Claims Becomes a Boom Industry. Yup, that's right, corporations fire people and then hire attorneys, who are assuredly expensive, just to deny you your merger unemployment check.
With a client list that reads like a roster of Fortune 500 firms, a little-known company with an odd name, the Talx Corporation, has come to dominate a thriving industry: helping employers process — and fight — unemployment claims.
Talx, which emerged from obscurity over the last eight years, says it handles more than 30 percent of the nation’s requests for jobless benefits. Pledging to save employers money in part by contesting claims, Talx helps them decide which applications to resist and how to mount effective appeals.
Because of the Republicans new found concern for budget deficits, 1.2 million American families will be cut adrift today.
Nearly 1.2 million unemployed Americans - including 27,000 in Wisconsin - face an imminent cutoff of government unemployment checks if Congress cannot pass emergency legislation to extend federal benefits before funding expires Sunday.
I sometimes find it frustrating how the market bulls try to spin the unemployment numbers to "prove" their point. It you only look at headline numbers it sounds convincing, but if you do some digging then the Rosy Scenario falls apart.
I'm going to take apart three major concepts in this essay.
A little noticed report issued by the National Employment Law Project last Friday dropped something of a bombshell. By the end of this year 1.5 million Americans currently receiving unemployment benefits will have exhausted them.
A sobering analysis released today by the National Employment Law Project estimates that 540,000 Americans will exhaust their unemployment insurance benefits by the end of September, and a whopping 1.5 million will run out of coverage by the end of the year. NELP’s state-by-state analysis comes on the same day as the states announce their latest unemployment figures, and together they demonstrate the pressing need for more extensions.
Remember the
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