Unemployment benefits fading away
 

CNN Money:

Unemployment benefits to fade away - Jun. 9, 2011

"NEW YORK (CNNMoney) -- Even though the nation's jobless rate is on the rise, millions of people could see their unemployment checks stop coming at the end of the year.

Nearly all Americans who find themselves out of work starting next month will likely receive only 26 weeks of state unemployment checks -- at most. And as Washington prepares to pull back, a growing number of states are cutting their share of benefits. South Carolina is poised to become the fourth state this year to reduce state benefits to 20 weeks, while Arkansas and Illinois have shorn one week off their unemployment insurance coverage."

This is not a done deal and personally, I'm struggling to find where I stand on this issue. Being able to collect only 20 weeks of unemployment benefits seems frightening.

I wonder if it would be feasible to base the number of weeks available on how often an individual has actually collected unemployment benefits? If someone never collected before, maybe they should get more weeks than someone who has collected multiple times over say, the past 10 years.

Not sure....

Re: Unemployment benefits fading away
 

I dunno....you once said that there was alot of proof that people on unemployment actually took time off from seeking work and that you had read that most people found a job as soon as their unemployment benefits ran out......Following that line of reasoning lowering the amount of weeks a person can collect unemployment benefits would only get him back to work that much sooner, wouldn't it?




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Re: Unemployment benefits fading away
 

First of all, I hope you realize that no individual human is static in their beliefs and that includes you MrsP.

Secondly, we may be right. It might encourage people to look for and accept jobs sooner even if it falls below their expectations.

But to cut unemployed from 73 weeks to 20 is dramatic from any perspective. Like I wrote, I'm struggling with where I stand on this issue. Also included in the article was the fact that many states and localities are poised to reduce their gov't workforce moving forward. So I don't see the level of unemployment lowering at all.

Since this thread isn't about what I've written in the past vs. what I'm writing today, we can end this line of discussion here. The topic is, unemployment compensation is going to be significantly reduced in all likelihood.

BTW...I haven't seen a "Gotcha" post from you for a while...although it really wasn't a gotcha at all, was it?

Re: Unemployment benefits fading away
 

I think the 20 weeks is state bennies, and is tied to the unemployment rate. A lower unemployment rate would lessen the amount of weeks (20) one could collect, while a higher rate would mean being able to collect for longer (26 weeks). Also, state bennies are separate from federal extensions. As it stands right now people can collect for 70+ weeks in most situations. I believe some have been collecting for as long as 99 weeks to 3 years. I'd have to look that up to be sure, but if memory serves me right, that was part of the deal they passed last year in congress. I understand it's hard to find a job, but I know a lot of people who are using their unemployment bennies as a type of paid for vacation. Obviously not everyone does that. I think people need to realize that it is intended as a short term insurance only. It's not a welfare payment. You shouldn't collect until you find a job you like. You should only collect to help compensate for the immediate loss of income. Even 20 weeks is 4-5 months worth of time to find a job, or two jobs if you have to, in order to pay your bills. Paying people to stay home for years on end is not good policy. People need to realize that saving, living within your means, and having a nest egg put away just in case, is important. If you own too much house, have too many cars, or invested in one flat screen too many, that's your problem. Hopefully this is teaching people the importance of fiscal discipline and personal responsibility.

Re: Unemployment benefits fading away
 

The 20 weeks is state benefits, but I think federal extensions will end. At least that's what the article said.

I'll admit that I feel bad for people who have to work 80 hrs/week. No one should have to spend all their waking hours working...but these are the times we're in.

I work for a guy who would LOVE me to work 80 hrs. And when I first started, I often did. Then I pinched a nerve in my neck 3 years ago and was out of work for 3 months and realized, "WTF am I doing?" So now I try to work "Normal" 40-50 hours/week.

Re: Unemployment benefits fading away
 

Tough question the unemployment rate really isn't falling as evidenced by the record number unemployed for extended periods. Not sure if the jobs are out there to be filled?

Re: Unemployment benefits fading away
 

what a shame.



Take all illegal alien benefits away and give them to our LEGAL DOMESTIC population.

winner winner chicken Parmesan, spaghetti dinner!!!

Re: Unemployment benefits fading away
 

I think you're right...tax dollars of American citizens should be spent on American citizens. That is especially true today given our economic condition.

Re: Unemployment benefits fading away
 

Plenty of "jobs" out there but they pay minimum wage. How someone can live on $8 or less per hour is beyond me.

U.S. Department of Labor - Wage and Hour Division (WHD) - Minimum Wage Laws in the States

Re: Unemployment benefits fading away
 

Obamanomics at work.

Mac Donalds accounted for >50% of "new" jobs last month and they happened to get a waiver from Obamacare, just a crazy coincidence I guess.