Debating Extended Unemployment
Filed Under (Financial News) by Amber Cook on 13-07-2010
With the U.S. unemployment rate currently hovering around 9.5%, there is still debate on whether to extend unemployment benefits once again. Under normal conditions, states would provide up to 26 weeks of unemployment insurance coverage for workers. Due to the recession, federal law had allowed an extension up to 99 weeks, depending on the rate in individual states. The extension expired in June, and Congress has failed to pass an additional extension. This means that those who exhaust the regular state benefits after June will not have the extension. There is controversy over how to fund the extension, and whether or not it is effective in aiding the economic recovery.
The majority of Congress was in favor of the recent bill extending unemployment benefits through November.
