Unemployment Extension Benefits Tier 5 – In conjunction with the Center for American Progress, the 111th United States Congress became the first Congress to allow unemployment benefits to be cut off during the highest level of unemployment in the history of the nation. The report stated that 1.7 million people had to go without unemployment benefits, amid reports that it has become increasingly harder to receive unemployment in many states.
According to spreadit, Congress in the past has always passed extensions to continue the unemployment insurance program. The last time that unemployment was not offered, was in 1983, when the unemployment rate was down to 7.2%.
Back then, the number of people in the work force was much lower, and there were far less people that were attempting to receive unemployment. Now, it is estimated that 15 million Americans are currently out of work.
“Despite the lack of jobs and record-breaking unemployment, Congress allowed federal unemployment insurance provisions to lapse on June 4. Nearly a month later, they still have not reauthorized the unemployment insurance extensions that millions of jobless workers are relying on in this weak job market,” the report said.
The report was very critical of congress and the way that they have handled the unemployment situation in the US. The report, which was titled “Today’s Unemployment Crisis by the Numbers,” revealed that the Federal Reserves believes that there is a slim chance of a quick economic recovery, even though they have continued to lend money with little to no interest for the last year.