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Wednesday, February 15, 2012

What If Emergency Unemployment Benefits Expire?

What will happen if Congress allows the extension of unemployment insurance to expire at the end of this month?:

What Happens if Congress Doesn’t Continue Emergency Unemployment Benefits?, by Chad Stone, CBPP: The emergency federal unemployment insurance (UI) program is set to expire at the end of the month. If Congress fails to extend it:

  • The number of weeks of available benefits for unemployed workers will shrink dramatically, to fewer than 26 weeks in some states (see the maps [1,2] below).
  • Nearly 4.5 million jobless workers will lose UI benefits before the end of the year (see the table below).
  • The economic recovery will slow.

Besides the obvious benefit of supporting unemployed workers and their families at a time when there is still only one job opening for every four unemployed workers, UI is one of the most cost-effective ways to support the economic recovery. ...

The failure of people to find jobs that don't exist is surely a moral issue.

    Posted by on Wednesday, February 15, 2012 at 12:27 AM in Economics, Fiscal Policy, Social Insurance, Unemployment | Permalink  Comments (25)

          


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