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Jobless Down = State Benefits Ending

From the Wall Street Journal:

Claims Drop as Jobless Exhaust State Benefits


JULY 24, 2009

The number of workers on jobless rolls is declining in an encouraging sign for the U.S. economy, although the decrease partly reflects people exhausting their state benefits.

The Labor Department said Thursday that about 6.2 million workers received weekly unemployment benefits, known as "continuing claims," from their state in the week ended July 11, down from a peak of nearly 6.5 million in late March. The number of new weekly claims also is down from its spring highs…

Displaced workers are typically eligible for 26 weeks of state unemployment benefits, at which point most who remain unemployed begin to receive federal unemployment benefits under the Emergency Unemployment Compensation program. As more workers join the ranks of the long-term unemployed, they move from state rolls to federal benefits, which is partly why the number of continuing claims is declining.

The Labor Department’s tally of initial claims for unemployment insurance rose by 30,000 to a seasonally adjusted 554,000 for the week ended July 18…

Labor Department data also show that the number of workers receiving extended federal unemployment benefits continues to rise, hitting about three million in the week ended July 4, the most recent data available.

Just as was have previously noted, the highly touted reductions in unemployment have been largely based on the jobless running out of benefits and leaving the states’ unemployment rolls.

Funny how seldom if ever our watchdog media note this minor detail.

Instead, they are too busy promoting their always rosy scenario that the jobless rate is declining.

Why is that?

This article was posted by Steve on Friday, July 24th, 2009. Comments are currently closed.

One Response to “Jobless Down = State Benefits Ending”

  1. MinnesotaRush says:

    Somebody may wanna let BS Biden know.

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