by Bill McBride on 4/29/2010 03:23:00 PM
Thursday, April 29, 2010
From Bloomberg: More Than a Million in U.S. May Lose Jobless Benefits (ht Chris)
[Lawmakers] are quietly drawing the line at 99 weeks of aid, a mark that hundreds of thousands of Americans have already reached. In coming months, the number of those who will receive their final government check is projected to top 1 million.According to the BLS, a record 6.5 million workers have been unemployed for 27 weeks or more. The article notes a study by the Pew Fiscal Analysis Initiative that shows 3.4 million workers have been unemployed for more than a year.
Interviews with state officials found that in New York, 57,000 people have received their last check. In Florida, 130,000 are no longer eligible as are about 30,000 Ohioans.
Not all states have 99 weeks of benefits, but some workers are starting to exhaust all of their benefits.
The job market better pickup soon ...
Posted by Bill McBride on 4/29/2010 03:23:00 PM