Unemployment Benefit News in America Today’s Update February 16, 2014: Congressional policy leaders decided to vote against another unemployment benefit extension shortly after the President called for the nation to support the unemployed in his State of the Union address. Although the Senate decided to vote down the measure to extend unemployment benefits for another three months, federal support for the unemployed continues. New Fed chair, Janet Yellen, said that the nation should be careful not to focus to intently on the fact that the unemployment rate moved lower to 6.6 percent in the most recent monthly report. Yellen shared last week during testimony that despite the drop in the unemployment rate, too many Americans remain unemployed in 2014. She said that inflation levels remain below preferred levels and that the economic recovery in the U.S. is still a work in progress. The last two monthly job reports were far weaker than expected and imply that the recovery process is far from complete. Only 113,000 jobs were added to the U.S. economy last month which is far below the number needed to get the millions of unemployed back to work. Yellen is new to the Fed chair, but she is a seasoned political figure. Hopefully, she can utilize her experience to find a way to help the long term unemployed in the U.S. this year. The long term unemployed will continue to hope for more and prepare to have less.
Posted on: Mon, 17 Feb 2014 03:38:43 +0000
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