Tuesday, December 17, 2013

Let Them Eat Pancakes

On December 28, 1.3 million people will lose their unemployment insurance. That's because Congress failed to add an extension of those benefits into the budget deal that will likely pass the Senate this week.

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By the end of 2014, another 3.6 million will lose their benefits.

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This is the first time since 2008 that Congress hasn't extended the [long term unemployment benefits] program.

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The long-term unemployment rate—the percentage of those without a job for 27 weeks or longer—remains at record levels, though, in an economy with three job applicants for every job opening. The overall jobless rate has dropped to its lowest in five years, but the long-term unemployment rate is at 37 percent of the total unemployed.

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Republicans say there's no urgent need to extend the $26 billion federal emergency unemployment insurance program because the economy is getting healthier. Democrats, who counter that the long-term unemployed are still struggling, wanted a budget deal more than they wanted the benefits extension.

  Mother Jones
Well, maybe North Carolina can reduce its rate of long-term unemployed with its new school voucher program.  That is, if you have a high school diploma.  It's not evident that even the legislators have that in North Carolina.  Oh, so maybe politics is another option for employment in that state.

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