Unemployment Benefit Extension Obama Update Underemployment Tops 20%
Washington, DC – There may be further unemployment benefit extension proposed by the Federal Government in the near future due to the recent statistics reflecting continued high unemployment.
Underemployment has topped 20% in three separate States.
President Barack Obama said in his State of the Union Wednesday that “one in 10 Americans still cannot find work.” But in nine states the figure is much worse — closer to one in five, according to Labor Department data released Friday.
The figures are a stark illustration of how tough it is to find a full-time job, even as the economy has grown for two straight quarters. The official unemployment rate of 10 percent doesn’t include people who are working part-time but would prefer full-time work, or the unemployed who have given up looking for work.
When those groups are included, the devastation in many parts of the country is clear: Michigan’s so-called “underemployment” rate was 21.5 percent in 2009, the highest in the nation. California’s was 21.1 percent, while Oregon’s was 20.7 percent.
Many companies and state governments have cut back on workers’ hours during the recession. And in the past six months, nearly 2 million unemployed workers have given up on their job hunts. Nationwide, the underemployment rate was 17.3 percent in December, just below the 17.4 percent reached in October, the highest on records dating from 1994.
Read More: finance.yahoo.com/news/Underemployment-tops-20-pct-apf-2783967295.html?x=0
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Whistler Blowers, Insiders
The unemployment benefit extensions doesn’t include the long-term unemployed at all, only the more recently unemployed.
Government has decided to cut the longer-term off the rolls. It’s a disgrace.