Unemployment

How is the stimulus package designed to support those that are unemployed or will become unemployed?

-Unemployment stands at 7.6 percent or more than 11 million people, and still more are losing their jobs. In order to help those who have lost their jobs a Stimulus package was approved by the Senate Finance Committee in the House on January 29, 2009. This Stimulus package was designed to make an addition of temporary extended unemployment insurance benefits 13 weeks longer. Meaning the unemployed will recieve extra money for being laid off. You may ask where is this extra money coming from? It is coming from the taxpayers.The Stimulus package was not only passed to give the unemployed more money, but it was also passed to put the unemployed Americans to work, creating new jobs. President Obama hopes that the Stimulus package will help create new jobs, to get back the jobs the unemployed have lost. The Stimulus package is also meant to help the unemployed get the training they need to get jobs and start givng back to the economy. Sources www.bls.gov/CPS -Ashley Van Veen -Since last year 3.6 million jobs were lost during the recession. The Stimulus package is estimated to create as many as 4 million jobs by the end of next year. These jobs will be created by state or local government. The stimulus package is designed to give back those jobs to the unemployed (more than the number of jobs lost due to the recession) but this is not even the main concept that this package covers for the unemployed. Its main concept is to strengthen unemployment insurance (UI). The package temporarly increases the UI of US citizens. Benefits go to the workers when they have lost their jobs and the additional income is likely to be spent quickly. It also encourages states to modify their UI systems so that more females, low income, and part time workers that loose their jobs through no fault of their own can qualify for benefits. Sources- www.articles.latimes.com www.cbpp.com Phillip Brown.

-From my research on recovery.gov, this websites estimates that the stimulus package plan will create/save 59,000 jobs in Colorado, 269,000 jobs in Texas, 396,000 jobs in California, 215,000 jobs in New York and 206,000 jobs in Florida in the next two years. As of February 6, 2009, the new unemployment rate according to the United States Department of Labor is 7.6%, the highest it has been since 1992, and as Phillip stated, more than 3 million people lost their jobs. Obama stated that the economic stimulus package will help create as many as 4 million jobs, therefore if the package does create 4 million jobs, then essentially, there will be more jobs than the 3 million that were lost, so we aren't just getting the jobs back that were lost, but we are creating even more jobs to lower the unemployment rate. But the stimulus legislation would revamp the 74-year-old U.S. unemployment compensation program by encouraging states to give benefits to those who quit their jobs for "compelling family reason." Therefore, people are still unemployed...? The whole issue is this, if you are fired/ let go of a job, you can claim unemployment and get money from the government, but if you quit, the government isn't required to give you money, but all of this doesn't help the issue of unemployment rate, because they still aren't making a sufficent income and we aren't making progress and creating *new* jobs by people just quitting so someone else can take their place. An article from the New York Times, claims that the Stimulus Package will actually increase unemployment. There is a $36 billion dollar in increased unemployment insurance benefits. Larger benefits will encourage some people who may be unhappy with their jobs, to be unemployed while they look for something better. Most of the new jobs created by this plan will be for people who are currently employed. But it takes more time for people to move between jobs and this is what is called unemployment. They aren't creating new jobs in numbers, they are just playing musical chairs. They new jobs created may not fit what the employee has experience in and they may not even have the right sets of skills for the new government-created jobs. Wherever it is these displace workers end up, it will take some time, and during that time, those workers will be unemployed. Of course people see the jobs being created but they don't see the jobs that disappear. -Brenna Stuhlman

According to the United States Department of Labor, the unemployment rate for the US is up to 7.6%, reaching highs not seen since 1992. One of the many goals of the stimulus package is the appease the harsh reality of unemployment. The package directly aids those who are unemplyed by creating more job opportunities. According to the //Washington Post//, $200 million will go towards the refurbishing of the National Mall, $150 million will aid in repairs to the Smithsonian, $30 million will be presented for highway construction, and the list goes on from there. These new projects are imperitive for the creation of new jobs. If only by a small percent, through these jobs, unemployment will be lessened. The stimulus package also direcly aids those who are unemployed. The Center on Budget and Policy Priorities mentions that there will be extended UI (unemployment insurance) benefits. These benefits are very likely to augment the growth of the economy because they meet the important stimulus criteria of being timely and temporary. Unemployment benefits will also increase from 26 weeks to 46 weeks. Some higher- unemployment states even offer 13 additional weeks of benefits, adding to become 59 weeks in total. The average unemployment payout will also increase $25 to $325 as a weekly sum. The package also will provide money to encourage the states to give unemployment benefits to part-time and low wage workers. The unemployment section of the stimulus package will aid the people hit the hardest by the weak economy. With more money in their pockets, they will be able to spend more, helping the economy. National income will increase, and therefore GDP will increase as well. Washingtonpost.com cbpp.org four-pillars.ca/about/ Sarah Tucker

-Today U.S. unemployment is at 7.6%, in the month of January 600,000 jobs were lost and the number continues to rise. The $787 billion Stimulus Plan has been put into action in order to help struggeling jobless American's, and improve the state of our economy. The Stimulus Package is said to create 3-4 million jobs by 2010 according to President Obama's Recovery and Revisement Plan. The Stimulus Plan is geard towards helping the unemployed in several areas; Unemployment Checks will be lasting longer by 20-33extra weeks, raise benifits by $25/week. Food Stamp benifits will be increased by 13% as well as additional funding from Medicare. $40 billion is going to Infrastructure, and billions more toward school repairs. High-tech jobs will also be in demaned; billions going toward computerized medical records, modernized power grids, expanding high speed internet, and promoting Green tech. Hopefully everything in this stimulus plan will help American get out from under this recession, create jobs for the unemployed and secure the state of this country, so that the future looks a little brighter for our fallowing generations. change.com Recovery.org mefeedie.com/moneytalksnews/unemployment Baily Bress