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One Million Us Jobless To Lose The Benefits

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Some 4.1 million Americans have been out of work for six months or longer. More than a million Americans will lose their unemployment benefits after an emergency federal program expired on Saturday. Under the program, jobless people received an average monthly stipend of $1,166 for up to 73 weeks. The White House says the benefits have kept millions of families out of poverty, but many Republicans argue that the scheme's annual $25bn price tag is too expensive. Millions more could be affected next year after they lose state benefits, which in many states expire after six months. The financial aid was designed to help US citizens who lost their jobs during the recession and were unable to find new work while receiving the state benefits.

The US unemployment rate fell to a five-year low of 7% in November. Link

The recession is over, let's get to work.

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I'm sure all of these people will find highly paid employment....

Work in restaurants for free and live off the tips?

The US economy in just two words: Freddie MacDonald's.

indexed-change-in-us-employment-since-1990-retail-manufacturing-food-service_chartbuilder.png

Edited by zugzwang

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American unemployment figures will eventually go to zero as everybody will have 'fallen off' the register.

I'm not joking.

Aren't they already hugely fudged?

Over 50 million on food stamps now yet the official unemployment rate hasn't moved much over 50 years (disregarding the recent spike upwards post 2008).

As far as I know their unemployment rate is based on a limited survey of 60000-100000 people and not the actual number of those on welfare or out of work. Which seems... convenient.

I do know if you included their enormous prison population there would be a huge increase in the figures. Perhaps IDS should just lock up all our unemployed and be done with it.

Edited by byron78

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The people who own and control America, Europe and the UK and happy to see jobs move to Asia and people made unemployed. This means that they can move in and pickup their assets cheaply before renting their assets back to them.

It won't stop until their are daily riots and protests and while the bread and circus via food banks and X-factor/eastenders are still running giving the illusion that all is ok you will not see trouble brewing.

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Jobless Claims - The Economic Miracle That Wasn't

The noise in the jobless claims data over the past few months has been unprecedented and yet the impressive jump lower in recent weeks has been trumpeted as the all-clear for Tapering and as a signal that the recovery is 'real' this time. Except, thanks to a huge 'glitch' in Florida's new CONNECT unemployment claims website, the data is completely FUBAR...

http://www.zerohedge.com/news/2013-12-29/jobless-claims-economic-miracle-wasnt

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Jobless Claims - The Economic Miracle That Wasn't

The noise in the jobless claims data over the past few months has been unprecedented and yet the impressive jump lower in recent weeks has been trumpeted as the all-clear for Tapering and as a signal that the recovery is 'real' this time. Except, thanks to a huge 'glitch' in Florida's new CONNECT unemployment claims website, the data is completely FUBAR...

http://www.zerohedge.com/news/2013-12-29/jobless-claims-economic-miracle-wasnt

Jesus.....

They lower the time limit you can claim for jobless benefits dependent on the unemployment rate. But if you run over the time limit you are no longer counted as unemployed. So it has a built in feedback loop that kicks in any time unemployment is not rapidly rising.

i.e. unemployment rises to 10% but stabilizes at that level, eventually people start falling off the register due to the time limit, this counts as unemployment falling, and so the time limit falls. That causes more people to fall off the register, which counts as a further fall in unemployment, further reducing the time limit, etc, etc.

Nuts system.

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So more than a million people - and their children - are going to starve?!!

People don't starve without work or benefits.

They invariably turn to crime or any activity that sustains them.

A quick look at the US prison population would seem to indicate this.

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