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Posted by on Aug 1, 2009 in Economy, Society | 3 comments

Scary and Depressing Times

Extended unemployment benefits are ending, with jobs nowhere in sight:

Over the coming months, as many as 1.5 million jobless Americans will exhaust their unemployment insurance benefits, ending what for some has been a last bulwark against foreclosures and destitution.

Because of emergency extensions already enacted by Congress, laid-off workers in nearly half the states can collect benefits for up to 79 weeks, the longest period since the unemployment insurance program was created in the 1930s. But unemployment in this recession has proved to be especially tenacious, and a wave of job-seekers is using up even this prolonged aid.

Tens of thousands of workers have already used up their benefits, and the numbers are expected to soar in the months to come, reaching half a million by the end of September and 1.5 million by the end of the year, according to new projections by the National Employment Law Project, a private research group.

Congress almost certainly will need to put through another 13-week extension:

“If more help is not on the way, by September a huge wave of workers will start running out of their critical extended benefits, and many will have nothing left to get by on even as work keeps getting harder to find,” said Maurice Emsellem, a policy director of the employment law project.

For many desperate job seekers, any extension will seem a blessing. Pamela C. Lampley of Dillon, S.C., said she sat outside the post office last month and cried because “it was the first Wednesday in quite some time that I’ve gone to the mailbox and left without an unemployment check.” The jobless rate in her state is 12.1 percent.

I know that feeling. It’s not a good one.

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