The economy has not yet recovered and unemployment benefits are almost exhausted.
The economy has not yet recovered and unemployment benefits are almost exhausted. Although the job market in Arizona and the United States is improving, progress is very slow. At the same time, unemployment benefits...
The economy has yet to recover and unemployment benefits are nearly exhausted. Although the job market in Arizona and the United States is improving, progress is very slow. At the same time, the unemployment benefit program is about to expire. If Congress does not extend the program, 6 million people will not receive unemployment benefits from the federal government in 2012. This number will be nearly 50,000 in this state. Under current law, in states with higher unemployment rates (including Arizona), federal funds can guarantee unemployment benefits for up to 99 weeks. If the program ends, newly unemployed people will have to rely on state unemployment benefits, which are usually only available for 26 months. This benefit has been extended several times due to the economic downturn. On Capitol Hill, the two parties are fighting over the budget, with Republicans insisting that benefits cannot be extended. Unless Congress takes action, those who have been out of work for more than six months will lose federal unemployment benefits by December 31 and will have to rely on state assistance. By the end of this month, the state government had received $618 million in emergency unemployment compensation from the federal government. If benefits end, the state expects to lose $395 million in federal unemployment aid next year, and the state Social Security Administration budget spent at least $789 million on unemployment benefits in 2012. Without federal aid, state governments are struggling to make ends meet. Of the 13.3 million unemployed people nationwide, about 43% have been unemployed for more than 27 weeks. An economist said: "Most of the long-term unemployed had good jobs before, but they have lost them permanently. In addition, most of these people are over 50 years old. Even if they participate in vocational retraining, it will take time to get a new diploma. How will they live if their unemployment benefits eventually run out?"?
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