Posted by: samhenry | September 6, 2009

Next Hit for Jobless: Losing Unemployment Benefits

From Tellitlikeitis at votingfemale.com the mothership blog

Jobless since January, Donald Money has already moved in with his elderly parents, stopped going to the movies and started using less of his prescription medication so it will last longer.

This month, something else will fall by the wayside: Money’s unemployment check. The 43-year-old former printing press operator is among the more than 1.3 million Americans whose unemployment insurance benefits will run out by the end of the year, placing extra strain on an economy that is just starting to recover from the worst downturn in a generation.

These are the most unfortunate of America’s 14.5 million jobless: the ones whose benefits are drying up — in some cases after a record 18 months of government support.

With savings depleted and job opportunities scarce, people are living with relatives and borrowing cash from friends. They are even skipping meals. Through it all, they are trying to stay positive through exercise and prayer.

The government said Thursday that 570,000 laid-off workers filed new claims for unemployment benefits last week, bringing the number of people receiving benefits to 6.23 million. The Labor Department is expected to report Friday that the August unemployment rate rose to 9.5 percent, up from 9.4 percent in July.

Money and others like him are scrambling to find work before the government safety net is taken away. On a recent day in Jacksonville, Money attended a church-run job fair in a half-vacant shopping mall. Most of the vendors were vocational schools trolling for students, or recruiters for the military and fast food joints.

For more of the article visit :

http://finance.kalpoint.com/highlights/todays-pick/next-hit-for-jobless-losing-unemployment-benefits.html

Advertisements

Categories

%d bloggers like this: