http://www.upi.com/Top_News/US/2014/02/23/The-Issue-Number-without-unemployment-benefits-approaching-2-million/UPI-91591393147800/
This article lays out a clear picture of how America's unemployment has evolved over the past few months. Additionally, it discusses how the FED will adjust to changing chairmen. This month, unemplouyment has fallen to 6.6%. There are two major issues that become relevant because of this. First, the major reason for the drop in unemployment is because of a diminishing labor pool. Secondly, the Fed has announced that once the unemployment falls to 6.5% they will diminish the amount of monetary policy they implement. Besides the decisions made by the Fed, there are many other important parts pointed. The most important of these is the fact that a vast majority of the public blames an inactive congress for most of the unemployment that America is facing.
Yes it is true that the unemployment rate is an important part of the US economy and we do need to lower it. The idea proposed by Harry Reid was not a great idea though. The extension of the unemployment benefits has the potential to hurt this economy even more. It allows people to stay out of the work force while still receiving money, If we were to force them to find a job, by not offering them benefits they would find a job that may be below their work level but it would be a job. People are not looking for jobs below what they consider to be their level but if they were there are jobs out there for them.
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