Thursday, December 10, 2009

People on Emergency Unemployment: 4.1M in Nov 2009 vs 729K in 2008

In more shocking news, the Department of Labor reported today that there were 4,178,780 persons claiming Emergency Unemployment Compensation benefits for the week ending Nov. 21, an increase of 327,729 from the prior week. In 2008, there were 729,256 claimants in the same period.

That is 5.7 times higher (470%).

The federal government provides up to 13 additional weeks of Emergency Unemployment Compensation (EUC) benefits for states that reach a total three-month average unemployment rate greater than 6 percent.

EUC is a 100% federally funded program that provides benefits to individuals who have exhausted regular state benefits. The EUC program was created on June 30, 2008, and has been modified several times. Most recently, on November 6, 2009, the President signed the Worker, Homeownership, and Business Assistance Act of 2009 (P.L. 111-92) which expanded EUC by adding up to 14 additional weeks of benefits in all states, and creating up to 6 weeks of additional benefits in certain States with high unemployment rates. The EUC program is set to expire, unless extended again, on December 31, 2009.

The highest insured unemployment rates in the week ending Nov. 21 were in Puerto Rico (6.1 percent), Oregon (5.6), Alaska (5.5), Nevada (5.1), Wisconsin (4.9), Washington (4.8), Michigan (4.7), Pennsylvania (4.7), Arkansas (4.5), Idaho (4.5), and North Carolina (4.5).
The largest increases in initial claims for the week ending Nov. 28 were in Wisconsin (+8,067), Kansas (+3,825), Missouri (+3,307), Iowa (+2,789), and Indiana (+2,162), while the largest decreases were in California (-28,672), Texas (-9,519), North Carolina (-8,873), Florida (-7,214), and Illinois (-6,610)."

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