Tags: workforce | unemployed | benefits | extended

Government Data Show Extended Benefits Extended Unemployment

By    |   Friday, 25 Apr 2014 08:16 AM

Each state offers the unemployed benefits that last an average of six months. In 2008, Congress extended the maximum benefit period to 99 weeks.

More than five years after benefits were extended in response to an economic emergency, the program was finally allowed to expire in December. Since then, the number of people in the workforce increased, while the number of long-term unemployed decreased.

The labor force participation rate, the percentage of Americans with a job or looking for a job, fell to 62.8 percent in December from pre-recession levels above 66 percent. Since extended benefits expired, the participation rate has risen to 63.2 percent.

In only three months, more than 1.1 million people joined the workforce, the largest three-month increase in 10 years.

The number of discouraged workers also fell when extended unemployment benefits ended, and that number is at its lowest level since 2009.

There are also fewer part-time workers than at any time since 2008. Some part-time workers are eligible for partial unemployment compensation and without extended benefits they would have less incentive to work part time.

Six months of unemployment benefits seems to provide a safety net, but 99 weeks proved to be a disincentive to work. Data show that decreasing unemployment benefits pushed some people into the labor force and helped reduce the number of unemployed.

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MichaelCarr
Each state offers the unemployed benefits that last an average of six months. In 2008, Congress extended the maximum benefit period to 99 weeks.
workforce, unemployed, benefits, extended
221
2014-16-25
Friday, 25 Apr 2014 08:16 AM
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