Should Congress keep extending unemployment benefits?
(PHOTO CREDIT: Chris Hondros/GETTY IMAGES)
FROM CNN's Jack Cafferty:
The House is considering a bill today that could help more than one million jobless Americans. It's an emergency measure, widely expected to pass, that would extend unemployment benefits for an additional 13 weeks for people living in states where the jobless rate tops 8-point-5 percent. That includes 27 states plus the District of Columbia and Puerto Rico.
This would be in addition to the 26 weeks of benefits that most states offer, and the federally-funded extensions of up to 53 weeks that Congress approved last year.
As this recession drags on and the jobless rate goes up, lawmakers have been under pressure to extend benefits... with governors from 22 states calling on Congress to act quickly. It's estimated that there are now more than six potential workers for each job opening - that's up from 1.7 when the recession began.
But critics say that additional unemployment payments can be a disincentive to looking for a job... and that it could be counterproductive to extend benefits now - when the economy is showing signs of recovery.
The bill's sponsor says it won't add to the deficit because it would extend a federal unemployment tax paid by employers... and require better reporting on new hires so the government doesn't keep paying them unemployment benefits. Senate Democrats say they'll address the measure as soon as the House votes.
State unemployment checks are around $300 a week, plus another $25 from the stimulus act. The national unemployment rate is now at 9.7 percent and expected to be above 10 percent for much of next year.
Here’s my question to you: Should Congress keep extending unemployment benefits?
Interested to know which ones made it on air?
Why hasn't stimulus package produced more jobs?
(PHOTO CREDIT: Justin Sullivan/GETTY IMAGES)
FROM CNN's Jack Cafferty:
Six months since the Obama administration pushed through the massive $787 billion economic stimulus package. So where are the jobs?
House Republican Whip Eric Cantor says he doesn't think the program is working as well as it was advertised, and says no one should be highlighting the benefits of the plan.
Cantor points out that when this thing was passed - the administration predicted it would keep unemployment lower than 8.5-percent. The jobless rate in July was 9.4-percent.
The White House has pushed back against critics of the stimulus bill - saying it's working as planned - by easing but not erasing the impact of the recession.
They say it will take a "very, very long time" to fill what they call a "very, very deep hole." That's fine… but where are the jobs?
Most economists agree the recession would have been worse without the stimulus... although they don't agree on how much it has helped.
Meanwhile - a new USA Today/Gallup Poll shows most Americans think the stimulus package has cost too much money and isn't doing enough to end the recession.
57-percent of those polled say it is having no impact on the economy or making it worse. 60-percent doubt the plan will help the economy in the future... and only 18-percent say it has done anything to help their personal situation. Not exactly rave reviews.
Here’s my question to you: Why hasn't the stimulus package produced more of a recovery in the jobs market?
Interested to know which ones made it on air?
Economy forced you to consider career change?
FROM CNN's Jack Cafferty:
Millions and millions of Americans have lost their jobs since this recession started in December of 2007; and the unemployment rate is expected to top 10-percent before the end of this year.
Job opportunities in the health care industry are on the rise.
The harsh reality is that a lot of these people have remained out of work for a very long time. Many of the businesses that used to employ them - the auto industry, finance, real estate and construction - have also been hit hard by the recession.
At the same time, other fields - like health care, clean energy, computer science and government - are expected to grow a lot in the years to come.
USA Today reports that millions of Americans are making dramatic job changes. A survey by Career-Builder shows 71-percent of workers who were laid off and haven't found jobs yet say they're looking for work outside their fields. This could mean the unemployment rate stays higher for longer - as workers need time to get training and then find jobs in a new field.
And these transitions aren't always easy. Sometimes the unemployed have to spend thousands of dollars getting that training - to learn skills needed for a new career. And then they find they have to take pay cuts.
The government is trying to help... the economic stimulus package included $4 billion over three-years to help retrain and place unemployed people in new jobs.
Here’s my question to you: Has the economy forced you to consider a career change?
Interested to know which ones made it on air?
How can Obama Admin. slow job loss?
[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/11/07/art.cope.ap.jpg caption="The Labor Department announced this morning 240,000 jobs were lost in the month of October."]
FROM CNN's Jack Cafferty:
This week began with a message about hope and ended, at least on the economic front, on a feeling of concern.
The Labor Department announced this morning 240,000 jobs were lost in the month of October, bringing us to a grand total of 1.2 million jobs so far this year. More than 650,000 gone in the last three months alone.
Scary stuff... And things could get worse into the first half of 2009. The auto industry is teetering on the brink of disaster. Collectively, they are among the biggest employers in the country. Recent retail sales reports are likely to accelerate the closing of stores. That means more jobs gone. There is nothing on the horizon to make us think things are going to get any better anytime soon. President-elect Barack Obama has promised to create jobs, but he doesn't take over the White House until January. Things could get a whole lot worse between now and then.
Here’s my question to you: How can the new administration begin to slow the loss of jobs in the U.S.?
Interested to know which ones made it on air?
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