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Recession persists, but jobless benefits ending

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posted on Apr, 4 2009 @ 06:15 PM

a few hilights:

WASHINGTON - In the coming weeks and months, hundreds of thousands of jobless Americans will exhaust their unemployment benefits, just when it's never been harder to find a job.

Congress extended unemployment aid twice last year, allowing people to draw a total of up to 59 weeks of benefits. Now, as the recession drags on, a rolling wave of people who were laid off early last year will lose them.

estimates that up to 700,000 people could exhaust their extended benefits by the second half of this year.

Some will find new jobs, but prospects will be grim:

the jobless rate, already at 8.5 percent, to hit 10 percent by year's end

"It's going to be a monstrous problem,"

U.S. employers shed 663,000 jobs in March

a net total of 5.1 million jobs have disappeared

taking on odd jobs, moving in with relatives

"My biggest fear is we'll lose the house,"

The jobs crisis it has created has proved worse than most economists forecast

In March, nearly a quarter of the unemployed had been without work for six months or more,

And the problem will probably get even worse

"What comes next, I'm afraid, will be the mother of all jobless recoveries," said Bernard Baumohl, chief global economist at the Economic Outlook Group, a consulting firm. "

"I'll work in McDonald's," he said

"It takes a little longer to fall asleep because of all the scenarios in your head," Uselton said.

posted on Apr, 4 2009 @ 07:05 PM
A gal friend i know, determined to be a waitress at the tourist resort...
because she tired of being a Doctors office manager & the extra work that was inherent with that position.

gal-friend, is reporting wages (as miniscule as they are) in off-season waitressing... and had already exhaused her 'covered' un-employment
for 13+13weeks... then received the other (i can't recall if it was 8 or 13 weeks) under the first extension at a reduced $96 per week....

but now, god bless her soul, the waitress person (by design) is on the 2nd
extension and has been bumped up to +$300. wk....
which is still below the original 13+13week unemployment package that
one might expect by following the rules.....

sure .... she is recovering more money than what has been paid in by past employers, but its a heck of a lot less than any of the myraid of 'Bonuses' that the brokers/dealers/bankers/'knowledgeable & indespensible' people have been getting and are being held up to a point of near Sainthood in 'deserving' obtuse salaries & additional 'Bonuses' as a matter-of-course....which IS by default
actually 'Raiding' the USA Treasury,
but who am i to protest?

have a nice Sunday folks

[edit on 4-4-2009 by St Udio]

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