Thursday, October 22, 2009

CNN: 7,000 People per Day exhaust Extended Unemployment Benefits

by Bill McBride on 10/22/2009 10:59:00 AM

From Tami Luhby at CNNMoney: 7,000 unemployed Americans lose their lifeline every day (ht Dirk)

Another day, another 7,000 people run out of unemployment benefits.

One month after the House passed a bill extending unemployment benefits, the issue is still being debated in the Senate.

...1.3 million people [are] set to lose their benefits before year's end if Congress doesn't act, according to the National Employment Law Project, an advocacy group. In October alone, more than 200,000 people will fall off the rolls.
This will probably hit 10,000 people per day soon. An extension of this safety net has widespread support ... and is still being held up in the Senate.