Monday, April 12, 2010

More than 200,000 jobless counting on an extension

More than 200,000 jobless Americans are anxiously waiting for the Senate to restore their extended unemployment insurance. Federal unemployment benefits, which last up to 73 weeks, kick in after state-funded 26 weeks of coverage expire. These federal benefits are divided into tiers, and the jobless must apply each time they move into a new tier. A million people could lose their unemployment benefits this month if the Senate doesn't act to extend it. To date, lawmakers have already approved two short-term extensions since December which extends the length of benefits. As around 11.2 million people now receive unemployment insurance, while 6 million are collecting extended benefits, consumer advocates have been urging lawmakers to quickly approve extending unemployment insurance as the unemployment rate remains stuck at 9.7% with the average duration of unemployment at 31.2 weeks.


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