The Labor Department announced today that the jobless rate has risen to over 10%. That is the highest rate since April of 1983. Also, economists are saying the unemployment rate would be 17.5% if those who have settled for part-time jobs and those who have exhausted their benefits were to be accounted for. That is a really dumbfounding number when you stop and think about it, that’s almost 1 in every 5. I know from being one of the underemployed since I lost my job almost 2 years ago, times are tough, but good news is on the way for some.
President Obama is preparing to sign H.R.3548 – Worker, Homeownership, and Business Assistance Act of 2009. The bill will provide $24 billion of assistance for emergency extension of unemployment benefits, extending the first time homebuyer’s tax credit and tax cuts for struggling businesses. For people have exhausted their unemployment benefits, this means an additional 14 weeks of money and 20 weeks in states whose unemployment is over 8.5%.
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There are way to many unemployed people right now. I notice lately that the stock market is going up and the gas prices are rising, yet unemployment seems to still be rising. Rather confusing.
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