Saturday, September 07, 2002
Study: 1.5 Million Unemployed Will Exhaust Jobless Benefits
In September. Yeah, this is looking good, Shrubbie. First you pooch it on foreign policy, caught lying trying to bolster a bad case, now the unemployed are losing the only thing keeping them from being homeless.
From the report:
Major reasons that so many unemployed workers are exhausting
benefits this year are found in the design of the measure passed in
March. First, it provided too few weeks of extended benefits,
especially in comparison to federal action in the last recession.
The measure also included a flawed formula for determining whether
a state is in the "high unemployment" category. The formula fails
to count as unemployed those workers who exhaust their regular
unemployment benefits (that is, their initial 26 weeks of
state-financed benefits) and remain out of work. Thus, the longer
that unemployment remains elevated -- and the greater the number of
workers who have been jobless for more than six months -- the less
likely a state is to count as having "high unemployment."
The state-by-state data in the report show that though July of
this year, the states with the largest numbers of exhaustees were
New York (111,000), Texas (78,000) and Florida (62,000). The report
notes that, aside from providing crucial support to families in
financial duress, unemployment benefits are highly effective as
economic stimulus, and have the benefit of automatically shrinking
as the employment picture improves. It recommends prompt federal
action to assist those who have exhausted their federal benefits.
Gosh, it's because of something that happened on Bush's watch. Now let's all watch them try to figure out how to blame Clinton for this one. Should be fun.
posted by lazarus |