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Subject
Fiscal Cliff: Labor market will lose 400,000 jobs in 2013 if UI extensions expire
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:DontBeFooled2012:MV8yMDUxNzA4XzM0NDgzOTk3XzgwNjE5N0Mw] [quote:Anonymous Coward 1535596:MV8yMDUxNzA4XzM0NDgxNTMzX0RFRjA4QUJD] [quote:Phennommennonn:MV8yMDUxNzA4XzM0NDgxNTA1XzFDQkU3QzRB] my next door neighbor got laid off a few months ago. he admitted hes riding out his unemployment til its exhausted. his wifes in a panic bc she cant meet the bills with the reduction in income. /smh [/quote] Once he decided to finally get up an look, he will be seriously sorry because there are no jobs. Trust me. I've sent out hundreds of resumes and applications to no avail in the last 6 months. Those unemployment numbers are grossly under reported. Too many unemployed, too few jobs. [/quote] I've been unemployed for a year and have applied everywhere...and im NOT applying for $15 an hour jobs....im applying.for everything including minimum wage and still zero call backs or interviews, and was told by worksource my resume was awesome and to "hang in there. Yea there are ppl milking it...max ui here is $624 a week wo taxes taken out...i get a 3rd of that. the unemployment numbers are extremely bullshit. And i dont see things getting better. I'm not for or against cutting off the ui, is what it is..its the new america. Makes me feel sad though.for all the ppl with families that have tried everything... I don't have any kids or a house so it's easier for me to.couch surf,but it will be rather interesting.what comes of all this come dec 29 [/quote]
Original Message
The Economic Policy Institute released a new policy brief today that asserts the following: should the unemployment insurance extensions expire, the U.S. labour market would lose 400k jobs next year. It should be noted that the EPI is a left-leaning institute, but the information that they provide is usually spot on.
SNIP
Federally funded extended unemployment insur-
ance (UI) benefits are set to expire at the end of
this year. These benefits serve two very useful
public purposes. Most obviously, they provide a lifeline to
the long-term unemployed and their families during the
deepest and longest economic downturn since the 1930s.1
Less understood but equally crucial, the UI benefit exten-
sions boost spending in the economy and thereby create
jobs. We find that continuing the extensions through
2013 would generate spending that would support
400,000 jobs. If this program is discontinued, the eco-
nomy will lose these jobs.
You can read the brief @ [
link to docs.google.com (secure)
]
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