"Two years of unemployment benefits just isn't enough for some jobless Americans." Congress has extended unemployment insurance to an unprecedented 99 weeks. This is not proving sufficient for hundreds of thousands of people who say they simply cannot find a job in this weak economy. Another extension would be the worst thing for the unemployed. It would likely further delay these Americans' re-entry into the workforce.
Saturday, April 24, 2010
How long should we help the unemployed?
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99 weeks to me seems a little crazy. To think that you can receive a paycheck for 99 weeks without actually doing anything it stupid, and will only delay peoples efforts to get back into the work force. With all this government spending that is only helping until it stops, I see this a just another waste of the american peoples tax money.
ReplyDeleteYeah maybe it is “stupid” I guess if you say so, but according to the bureau of labor statistics there are currently 5.5 people for every job opening. Congress extended benefits again because it prevents families from losing their homes right now due to the inability to pay ones mortgage…it sort of comes with being jobless. These people try to sell their houses, but obviously they have no luck with that. A lot of families will be able to continue making regular mortgage payments later on when they find jobs and they would end up keeping their houses...This is good right? Houses are nice. People like holding onto those.
ReplyDeleteMany people would be forced to relocate or switch job fields to get hired. This is easier said than actually done and this extension reduces this effect until the economy is whole once again. This article also explains how people on unemployment benefits tend to spend every dollar they have, so in a way this helps the economy. Many are optimistic that hiring will begin soon and further benefit extensions will not be needed; hopefully this is true since we all can agree that it's costing a fortune.
I agree with Scott. It is a little ridiculous to have unemployment insurance extended to 99 weeks. At the same time, based on the stats provided by R. Jones, where there is approx 5.5 people for every job opening, it would make some sense to have it extended. However, can such policy change or extension mould the behaviour of the previously employed to live a life of not doing anything?
ReplyDeleteBasically, is such an extension a short term or long term solution? If it is a long term solution, I can only see a build up in costs and a further waste of tax payer's money (agreeing with Scott), while potentially making the average American looking for work lazier than in the past.
In my opinion most people are not trying to not re-enter the workforce, as someone commented before job openings per unemployed worker are very very small and many people would die for a job right now so in this case many families need another extension in unemployment benefits
ReplyDeleteIn terms of my view, it is might better to the Government to make use of its spending on developing a sustainable program. Rather than extending the time limit of unemployment insurances, it might be better to create more governmental jobs or subsidies to companies who could provide more job positions to unemployed people, which is profitable in a long-run term.
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