A Million And A Half U.S. Workers Will Exhaust Unemployment Benefits By Year's End

[Omaha Steve]

Source: Workers Independent News

As the unemployed approach the end of unemployment benefits, one fed chief suggests the real unemployment rate is 16 percent. Jesse Russell reports:

1.5 million Americans are expected to come to the end of their unemployment benefits by the end of the year with more than 500,000 exhausting benefits by the end of September. Those projections by the National Employment Law Project come a day after a Federal Reserve official said the real U.S. unemployment rate is closer to 16 percent, significantly higher than the 9.4 percent claimed by the Bureau of Labor Statistics. Those comments were made by Atlanta Fed Chief Dennis Lockhart during a chamber of commerce speech in Chattanooga, Tennessee. Lockhart expressed that the number is his personal opinion and doesn’t reflect those of the Federal open Market Committee. According to Lockhart his 16 percent unemployment rate includes those who would like to work, but have stopped looking “and those who are working fewer hours than they want.” As for workers about to fall off the roles, California is expected to be hit the hardest come the end of September. More than 79,000 unemployed will exhaust benefits in the state with the Texas seeing the second highest number drop off at nearly 47,000. According to the government 6,133,000 people filed continuing unemployment claims last week, down 119,000 over the week prior.



Read more: http://www.laborradio.org/node/11831

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[geckosfeet]

1. Damn. At least they have national health insurance.

Oh.

Wait.

[waiting for hope]

2. I'm one of those at the end of September.....

and not too hopeful either.

[Sub Atomic]

4. Mine ran out a couple of weeks ago.

I'm actually getting scared. I don't know what I'll do.

[waiting for hope]

10. Neither do I - I have two kids and whatever I take

has to justify daycare so I'm competing with a larger pool of people in a higher pay base. :hug: I hope you find something soon.

[Missy Vixen]

3. The article I read last week stated that 13 million

are unemployed, with most of those due to exhaust even federal benefits by the end of the year.

This will make Katrina look like Disneyland...

:scared:

[quiller4]

5. State benefits last longer than federal benefits in most areas

[Missy Vixen]

15. That isn't the case in Washington

DH was on federal benefits after things ran out here.

The Obama administration will have to look at lengthening unemployment on the federal level ASAP after Labor Day.

[Grassy Knoll]

6. The sad thing is..

Employers are taking advantage of this situation even if you can find a job,
A 25 dollar an hour job is down to 9 bucks, take it or leave it without insurance.
My friends who made 60 thousand a year, are moving in with their kids,
Those jobs are gone at the old rate, it gave employers a great excuse to fuck people.
All I can do is take a shit job that nobody wants to eat top ramin so I can make money
for somebody else.

[jannyk]

7. Welcome to DU Grassy...

and you make a valid point.

:hi:

[Grassy Knoll]

12. Thank You, jannyk

[NickB79]

8. Merry f*cking Christmas indeed

The retail sales numbers for this holiday season are going to make executives shoot blood out of their eyes.

[OhioChick]

9. Times are going to get much, much worse. n/t

[Amos Moses]

11. K&R

[Oregone]

13. green chutes

[defendandprotect]

14. Unemployment has been changed . . .

we need to go back to original system --

And make sure that corporations are paying for unemployment costs --

[Grinchie]

16. Has anybody ever seen Corporations NOT layoff people during Thanksgiving or Christmas, Ever?

Not me, and I've been watching for a long long time now.

I really have no reason to believe that they won't be trimming the Payroll to get nice fat financial statements this year either.

Green Chutes.. Thats pretty funny, actually..

[Iowa]

17. Extend these benefits. Whatever it takes. This is priority number one.

If we can afford to pour money into Wall Street and throw it down rat-holes for wars about nothing - we can damn well afford to keep unemployed people on benefits until this mess turns around. And let's get on with taxing the hell out of high earners to start paying off the red ink.