Sunday, November 7, 2010

Federal Unemployment Benefit Extension Needed; 3 Tiers 99 weeks Needs Revised; Deadline Near to File Unemployment Papers; November 5th Notes

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Federal unemployment insurance is a hot topic right now due to two variables. One, the unemployment rate continues to remain at excessively high levels. Currently, the national unemployment rate in the United States is hovering around 9.6% which is about 5% higher than it was just over two years ago. Two, unemployment benefits are at risk of being discontinued for approximately two million people across America. If Congress does nothing in the next several weeks to extend unemployment benefits coverage, then approximately two million people will have to find another way to receive a reliable and predictable form of income. The deadline to file for federal unemployment benefits expires on November 30th and four days after that, over 800,000 people will stop receiving unemployment benefit checks according to the National Employment Law Project group. Republicans have recently gained more power in the House. They talk of fiscal responsibility and reducing the national budget deficit. Republicans have also blocked attempts at unemployment extensions several times this past year due to the above listed reasons. Federal jobless payments last 73 weeks and this kicks in after the initial state funded 26 weeks of jobless benefits comes to an end. Once an unemployed citizen moves through the tiers of time to receive unemployment, there are few options. President Obama is once again urging lawmakers to pass an extension to extend the deadline for federal benefits. Congress is running out of time though. There are less than a handful of days this month that Congress will be in session to consider the extension. Passing the extension just got harder too with the Republicans gaining the House and adding seats in the Senate. Author: Stephen Johnson

Federal Unemployment Benefit Extension Needed; 3 Tiers 99 weeks Needs Revised; Deadline Near to File Unemployment Papers; November 5th Notes



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