Thursday, July 9, 2009

In the wake of the "stimulus," unemployment grows

"Today’s unemployment insurance benefit claims data from the U.S. Department of Labor reveals another record number of Americans collecting unemployment insurance (UI) benefits. The almost 9 million currently collecting UI benefits is an increase of 1 million from the level before the so-called stimulus bill. This counts the 6 million receiving State UI benefits (payable for up to six months) and the almost 3 million collecting Federal UI benefits (payable for up to another 12 months). The current total of 8.9 million unemployed workers collecting UI benefits in the week ending June 20, 2009 – the most recent week of complete data – is triple the number (2.9 million) who collected UI benefits just one year ago."

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