While lack of confidence in the recent economic recovery led employers to shed an unanticipated 85,000 jobs in December 2009—even as many long-time unemployed Americans gave up looking for work to keep the unemployment rate held steady at 10 percent—the qualification dates for existing tiers of unemployment benefits were extended for an additional two months.
But that two-month bump in benefits will expire at the end of February 2010, leaving millions of average Americans bewildered and without any money coming in their coffers. Now, without Congressional action to extend these benefits, this latest look at the state of unemployment means an unprecedented number of jobless workers will lose their benefits and be ineligible to get more by June 2010.
In fact, the National Employment Law Project (NELP) released a new report last week about this very long-term unemployment crisis, revealing that:
“1.2 million jobless workers will become ineligible for federal unemployment benefits in March unless Congress extends the unemployment safety net programs from the American Recovery and Reinvestment Act (ARRA). By June, this number will swell to nearly 5 million unemployed workers nationally who will be left without any jobless benefits….Currently, 5.6 million people are accessing one of the federal extensions (34-53 weeks of Emergency Unemployment Compensation; 13-20 weeks of Extended Benefits, a program normally funded 50 percent by the states).”
Of the nearly 1.2 million workers facing a cut off of benefits in March alone: “380,000 workers will exhaust their 26 weeks of state benefits without accessing the temporary EUC extension program or the permanent federal program of Extended Benefits. Another 814,000 workers will not be eligible to continue receiving EUC past their current tier of benefits.”
“’Congress must swiftly act to maintain the lifeline for millions of jobless Americans caught in the
undertow of record long-term unemployment in this ongoing downturn,’ said Christine Owens, Executive Director of the National Employment Law Project. ‘At the end of last year, Congress wisely agreed that our hardest hit workers and our economy were not yet out of the woods, and reauthorized the jobless benefits and health care subsidies from the ARRA. It is critical for Congress to renew these unemployment provisions through the end of the year before its Presidents Day recess for the millions workers again facing the end of the line—and to avoid missing the boat on this timely and effective economic jolt.’”
Under intense pressure from the public, Congress is currently considering a qualifying unemployment benefits extension period of another three months. But for many, remaining jobless, even with an added lineup of benefits, is no consolation. As one in 10 Americans remain unable to find work and President Obama has established job creation as his "number one focus" this year, according to some economists, the legislative proposals being seriously discussed in Washington don't even come close to addressing the problem.
As a result, many are taking things into their own hands to address their financial woes and take back their fiscal freedoms to make a fresh start through bankruptcy.
In fact, knowing a qualified bankruptcy attorney can also help any unemployment person to conquer your creditors and face their financial fears, yielding the right kinds of support, information and insights—at a low cost— for a viable and secure future. The bankruptcy experts at the Law Offices of John T. Orcutt offer a totally FREE debt consultation and now, more than ever, it’s time to take them up on their offer. Just call toll free to +1-919-646-2654, or during the off hours, you can make your own appointment right online at www.billsbills.com. Simply click on the yellow “FREE Consultation Now” button.