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Unemployment Extended Benefits Expiration May Lower Jobless Rate, Economists Say

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Unemployment Extended Benefits Expiration May Lower Jobless Rate, Economists Say  Empty Unemployment Extended Benefits Expiration May Lower Jobless Rate, Economists Say

Post by Guest Mon May 21, 2012 6:27 pm

Here's why: Some workers who had been searching for work as a condition of receiving benefits will quit looking when they are cut off, thereby dropping out of the labor force. Workers only count as "unemployed" if they have tried to find jobs within four weeks of a government survey. People who aren't looking for work because they believe none is available aren't part of the official unemployment rate calculation (though they are included in broader measures of unemployment released alongside the official one each month).

Another reason the unemployment rate could drop without Extended Benefits is that former claimants suddenly deprived of income will settle for lower-paying jobs they wouldn't have taken before.
http://www.huffingtonpost.com/2012/05/21/unemployment-extended-benefits-expiration_n_1533955.html

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Post by Jobless_in_Ma Tue May 22, 2012 9:50 am

Bailly said that if he had known his benefits would be stopping, he would have lowered his job-search sights weeks ago instead of continuing to hold out for a job like the one he lost. He said he previously earned $13 an hour doing compliance work for videogame manufacturers, making sure that game software worked correctly with different hardware systems (he said the work did not entail actually playing games). Now that he's out of benefits and in need of next month's rent, Bailly said he's gunning for whatever low-paying work he can get.

Wow holding out for a 13 dollar an Hr job. California is one of the most expensive states to live in. How could he survive on that wage.

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Post by Guest Tue May 22, 2012 9:40 pm

Jobless_in_Ma wrote:
Bailly said that if he had known his benefits would be stopping, he would have lowered his job-search sights weeks ago instead of continuing to hold out for a job like the one he lost. He said he previously earned $13 an hour doing compliance work for videogame manufacturers, making sure that game software worked correctly with different hardware systems (he said the work did not entail actually playing games). Now that he's out of benefits and in need of next month's rent, Bailly said he's gunning for whatever low-paying work he can get.

Wow holding out for a 13 dollar an Hr job. California is one of the most expensive states to live in. How could he survive on that wage.
Cashes in cans for five cents a piece! Some days you can make $40 or $50, depends what dumpster you want to dive in. Seriously, you would not believe the people around here who do it and bring the cans to MA or CT. Even that "profession" is getting competitive. People actually fight if someone touches someone else's cans or bottles. What a life!

affraid

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Post by Guest Wed May 23, 2012 12:27 pm

Hi all. I just love when people make comments about someone holding out for a job that pays closer to their previous wages. Who wouldn't? Everyone forgets that after any time on unemployment, you are behind on just about everything. Meanwhile, at least here on the east coast, gas, home heating, elec and food have significantly increased. We won't even get in to insurance, health, car, life etc. So $13 is being picky??? Really, name me anyone who can survive on that alone. Rent/mortgate? that would barely pay for that, much less the balance I listed above. Too many of these writers and career politicos have no concept of life in general. Makes me sick.

As far as lowering the unemployment rate, we of course it will, but we will all starve and once again, the housing market will take a dive and of course, the ever "hot" topic of "revenues" (taxes) will continue to be "hot". With 18% real unemployment, how could anyone expect to grow revenue. Even with the top 2% contributing more (and they should), 18% of the nation not working leads to a real strain on Federal and State budgets, we are not paying taxes, Social Security, state taxes etc. It's going to hurt alot. There is a huge part of me that wishes they would see the effects for a month and wake up, but it would put everyone still collecting in my shoes as a 99er for 2 years with no prospects still that I could live on and I wouldn't wish that on anyone.

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