Posts Tagged ‘unemployment benefits’
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Ever have one of those days where you simply needed a little boost and plunked loose change into a vending machine for a sugary treat?
If you’re Robert McKevitt of Spirit Lake, Iowa, you’ve certainly had one of those days. And then some.
The 27 year-old got fired for trying to retrieve a candy bar from a vending machine. Check that — we need to add one minor detail. An 8,000-foot forklift was involved! Read more
When we read this piece in today’s New York Post, we half-heartedly nodded our heads in agreement. A reader is concerned about moving from a windowed office into a cubicle.
She or he writes, “I hate it. I can’t concentrate with all the noise and activity and my productivity is going to suffer.”
Although the disgruntled employee is concerned this isn’t the environment they signed up for when accepting the job, he or she wants to claim that work conditions have changed. Better yet – the reader wants to negotiate unemployment benefits.
We feel some empathy to the employee. After all, we’ve been in situations where we’ve moved from swanky corporate real estate into a cubicle and it greatly reduced our productivity.
But to take it so far to ask about claiming unemployment? Really?! Read more
The Senate attempted to reach an agreement on a short or longer-term extension of unemployment insurance (either three months or 11 months) but alas, the issue has fallen short.
We feel like there’s no much more to even say. Sure, we could go into statistics like the cost of $6.4 billion to the government for the extension of three months.
Or we could point out a statistic of 2.3 million children last year living in our country with at least one parent who was looking for a new job for at least six months, per the Urban Institute and published by The Wall Street Journal. Compared to the number of 754,000 in 2007, that’s quite significant.
Today is certainly not a good day for the long-term unemployed.
As of today, 1.3 million Americans are impacted as they’re cut off from unemployment benefits.
In a statement, White House Principal Deputy Press Secretary Josh Earnest indicated:
“This morning, the President placed separate telephone calls to Senator Jack Reed and Senator Dean Heller to offer his support for their proposal to extend emergency unemployment benefits for three months. The President said his administration would, as it has for several weeks now, push Congress to act promptly and in bipartisan fashion to address this urgent economic priority.” Read more
Things are lookin’ up.
The good news? The number of Americans applying for unemployment has dropped by 42,000 in the last week alone! That’s the biggest drop since November 2012.
According to the Labor Department, Americans filing new unemployment benefits claims significantly increased last week. Numbers rose to the highest ones in the past nine months!
The seasonally adjusted number is 379,000 — that’s the highest number since this past March! The number is also significant, says reports, because it’s the second consecutive week for increased claims.
Perhaps what’s most surprising is that Reuters asked economics prior to today’s report to forecast their expectations and they anticipated numbers would have been 334,000. Read more
Good news as it relates to the job market!
According to Reuters, the number of Americans filing brand new unemployment claims dropped more than expected last week. Today the Labor Department announced initial claims dropped by 23,000 for a total of 340,000. Typically, 350,000 is the benchmark economists reference for a strengthening job market.
As for the drop itself, the implication is the result of the previous week’s jump since employers weren’t laying off workers so readily after hearing about the $85 billion government spending cuts.
The piece pointed out the tighter fiscal policy may have tightened the belt on economic activity but the slow pace may just be temporary as job opportunities grow stronger and home prices increase to boost consumer spending.
Economic activity appears to have cooled somewhat early in the second quarter on the back of tighter fiscal policy, but the slowdown could prove to be temporary as the steady job gains combine with rising share and home prices to support consumer spending.
The claims report showed the number of people still receiving benefits under regular state programs after an initial week of aid fell 112,000 to 2.91 million in the week ended May 11. That was the first time in five years so-called continuing claims were below the three million mark.
Here’s a staggering thought: Approximately 2.1 million Americans are set to lose their extended unemployment benefits on December 29 if the folks in Washington don’t renew them. This is part of a package deal related to tax increases and spending cuts better known as the fiscal cliff.
That’s not all — as per the National Employment Law Project (NELP), an additional 930,000 Americans are going to run out of unemployment insurance early in the new year when their 26 weeks expire. (During the recession, the federal government provided up to 73 weeks of jobless benefits in addition to the 26 weeks most states were able to provide.) Read more
Here’s good news on a Friday during the holiday season!
According to The Labor Department, the number of Americans seeking unemployment benefits dropped significantly for a fourth consecutive week.
Weekly applications for benefits dropped by 29,000 last week to the lowest in two months — a total of 343,000! This marks the second lowest number during this calendar year. Read more
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