1.5 Million To Exhaust Unemployment Benefits By The End Of The Year

More than 500,000 Americans will exhaust their unemployment benefits by the end of September. And by the end of the year, the number will near 1.5 million, according to a report released Friday by the National Employment Law Project.

"It is clear we are coming up on a tidal wave of need for more extensions and help from the federal government," said Andrew Stettner, NELP deputy director, in a statement.

David Smith, spokesman for the Pennsylvania Department of Labor & Industry, told the Huffington Post that up to 25,000 people will exhaust their unemployment benefits this weekend alone.

"It's the first large wave," he said.

In California, 177,759 will lose their benefits come January; in New York, the total is 131,893. More than 72,000 people in Michigan, where the unemployment rate hit 15.2 percent in June, will stop getting checks at the beginning of the year.

The NELP praised the $787 billion stimulus package for covering the full cost of extended benefits for 2.8 million workers. But the report, noting the record number of long-term unemployed -- 4.4 million people have been out for 6 months or longer -- calls for an expansion of benefits for people who will run out in September.

"Never in the history of the unemployment insurance program have more workers been unemployed for such prolonged periods of time," Stettner said. "With an onslaught of exhaustions just around the corner, Americans still need robust benefits to keep their families and communities above water."

Federal Reserve leaders forecast on Wednesday that they don't expect the economy to get its act together for another five or six years. Many economists are calling for additional stimulus spending by the government.

Click here for a PDF of the NELP's state-by-state breakdown.

Comments

[sueinmn]

My claim runs out in September. I called the UI today to ask what next? They have federal extension 1,2,& 3. Im exhausting1, 2-3 will be short.

Then what? Its all up to the President. Can he through millions of people out to the streets? Will he?

They are predicting years before this is over, (2012) we cant possibly thing we can survive the next year much less longer. Another wave of ARMS began. The last wave was suppose to be only 10%, now this one is the other 90%.. Hang on people, this is going to get very slippery.

[sueinmn]

Its too bad that government didnt learn how to save when we had a surplus. Bush spent like a drunken sailor. Not trying to save the economy but to ruin it! But its too bad we dodnt head the warnings 30 yrs ago about imports. And again its too bad we dont head the warnings today about imports.

Kust keep spening them wlefare dollars at wallmart and see where tomarrow puts us! Drive your imports, wear your imports, eat your imports. Kep buying em folks as soon we will not even recognize this country.....!

[sc92705]

How about an across the board pay cut for all federal employees; bigger cuts for those federal emplyees making more than the national average?

How many assistant to assistant deputy to the directors do we need?

[hypnotoad72]

How about matching the cost of living down with wages as well?

Minimum wage in 1962 was rather less... so was the cost of living, so people actually COULD live off of it? Today's minimum wage is higher, but the cost of living eclipses it too.

And let's talk about ALL Americans. Not just a handful...

[sueinmn]

Credit cards alone! See how they went up and will never come down. Property taxes on the rise for homeowners and renter alike. As we continue to import wages will keep rushing to the bottom, but where will it stop?Bachman (R-MN) is already pudhing to do away minimum wage in the name of competition. Shes convinced its the ONLY way to end unemployment. Of cource she takes her orders from the voices coming from her tinfoil hat club aliens.

[Furby]

And how about pay cuts to all employees of companies that received TARP funds, just to show good faith.

[sc92705]

Those comapnies have had massive layoffs. My point is fed government is GROWING while tax revenues are PLUMMETING. It would help if the feds ran themselves a bit like a business. Our tax dollars prop up the likes of Goldman Sachs and I'm unhappy about that but equally unhappy that fed and state workers are spared by printing money.

[totaldisbelief]

Will the FEMA camps hold all those people ...and their families?

[Lorianne]

Everything is OK !!!!

Larry Summers cites Google search as progress
http://www.politico.com/news/stories/0709/25083.html

[nomoredead]

We are seeing exactly what closing factories and moving jobs overseas for the past 25 years does to a country.

We reached the breaking point.

[DuganS1]

This has nothing to do with factory closings and jobs moving overseas. In the early 80s recession, before the 25 year period in question, unemployment was higher than now. In 1982, for example, unemployment hit 16.9% in Michigan, where there were lots of factories. The problem, however, was that consumers weren't buying anything the factories were producing because interest rates were too high. Today, even if we had more factories, consumers wouldn't be buying anything because they have too much debt and are saving rather than spending.

[nomoredead]

Unemployment " has nothing to do with factory closings and jobs moving overseas. "

Your comments never cease to amaze me.

[totaldisbelief]

Wow are you wrong......there's a lot more to it than the factories leaving but to say they had Nothing to do with the current situation is nuts.

[plwood01]

There are no quick fix remedies for what we face so everyone needs to get a grip...we have been here before and will be again unless we take the time necessary to really dig in and get to the bottom of all the greed we have to deal with in our leaders. Had we had someone who spoke about living within one's means, instead of telling the country to shop, shop, shop, we would be further along on getting control of our spending. In 2000, when we had the last surplus, we should have been working on turning things around then, campaign reform should have been included so that regular people could seek high office and get in the House and Senate...that would have meant that we had a more diverse Congress to work with and perhaps people who were not rich would be in there working for the little man and the children of our country. I don't think they care about the lives of their own.

[DuganS1]

The major reason we had a budget surplus in 2000 was because of the huge amount of tax revenues from capital gains, because of the stop market bubble. That income stream went down close to zero in 2001 and 2002, and there wouldn't have been anything close to surplus even without the Bush tax cuts.

[totaldisbelief]

how do you "get to the bottom of Greed" ?????

[totaldisbelief]

while the consumers were shop shop shopping ;the CEOs and Wall St. were take take taking.

[Avanti2]

Reallocate a $200 Billion Dollars of the unreleased Stimulus money from the "Oink Projects" into Unemployment Benefits for the American People. I know the "Congressional Pigs will Oink and Rant in there Pig Pen" but that is the proper thing to do for the Millions of Unemployed.

I believe Obama could do this on his own using a Presidential Signing Statement addendum to the $787 Billion Dollar Stimulus.

[totaldisbelief]

with no job creation the Unemployed (growing daily)will be getting a check for life.

[sc92705]

Obama's programs to mitigate foreclosures and create jobs were both airballs.

The "reinvestment act" mostly was used by states to reduce their current budget deficit and extend unemployment benefits.

It's not clear that Obama is even cares about looming disaster with people's unemployment checks running out. The so-called white house press corps won't ask him tough questions like what are these people supposed to do.

Bush created this mess, agreed. Obama refuses to clean up the mess; he is letting it all play out.

Obama's popularity is dropping like a rock. He might lose if he had to run against McCain today.

[sueinmn]

Well mccain wold not have given any help to the people or states! Remember the republicans are against the stimulus and still against parts that provide social help in it. Obama may be letting it play out and must realize this is too many people to throw under the bus but I fully believe that McCain would have thrown the entire nation under the bus on day one!

[texastrixie]

I agree 100%! Although, by the time unemployment hit 15%, McCain would have had to do something or risk marches of millions of unemployed people on DC.

[totaldisbelief]

well the Banks are dragging their feet pretty good on fixing the mortgage situation.
and what about them pushing up credit card rates? They aren't helping they are hurting the situation.

[dm92]

Please, those extended unemployment benefits would never have happened under McCain and his GOP cohorts. Obama and the dems will extend benefits again.

[themodernleader]

AirViceMar­shallPark. By the reckoning of the oracles, you are right.

[davidwayneosedach]

Obama will simply extend benefit period by 6 months. He cannot afford to have 25 million unemployed Americans without any source of income whatsoever.

[sueinmn]

Not nearly enough.

Federal Reserve leaders forecast on Wednesday that they don't expect the economy to get its act together for another five or six years.

[dm92]

Then they will keep extending it....the GOP is not in charge right now.

[sc92705]

Wishful thinking re. the extension.

[texastrixie]

I agree. Except for the very liberal, I am hearing from people (not just TX) that they think there should be a hiatus on new spending. I don't think this will ever get through the Congress.

[skeptical2]

Obama is fully aware of this reality. He chose, just like Bush, to bail out the large investment banks instead of the American people.

Answering why the too-big-to-fail banks were bailed out is the $64,000 question (whatever happened to anti-trust laws)? To shut down the economy on purpose because of peak oil or climate change? That's one way to conserve resources. Remember, Nancy Pelosi and Hank Paulson claim they are environmentalists.

To transfer taxpayer funds to the global moneyed elite for political power, or the New World Order (via conspiracy theorists)? Goldman Sachs money certainly isn't going to us "average" Americans, even if we do invest in the stock market.

It's time we actually analyze the results of Obama's policies (Bush's were terrible).

[dm92]

That wasn't entirely a choice. As badly as that money was handled, not bailing out those banks would have caused the world's entire financial system to collapse - it HAD to be done. The American people will continue to get extended benefits.

[jsgaetano]

At long last, it's the Bush Boom!!!

[plwood01]

If you remember that all this came out right before the election and Obama started work while the McCain just looked real silly saying that "the basics of the economy are strong..." Had McCain won we would not be here today. 1.5 million would not have had anything to keep them from the streets, the tent cities, etc., where many are living right now! In California and Illinois they have no money to pay employees let alone unemployed benefits. Obama knows all this, but he still has to deal with those others in the House and the Senate who were not wanting to even give us a stimulus. Republicans are doing everything that they can to slow things down or water them down for Obama because they know that the credit for good things will go to him. Why should they help him out? Those crazy old white guys in senate with the flag pins don't think about Americans who are losing everything they ever worked for! they are the disgrace...they are the people we should be mad at and they are the ones who will sink this country as they have over and over again before Obama was even ever thought of! We should be giving him credit for even trying to do what is right for a country that allows racist to continue to run things all these years. They GOP give us nothing for any of us to be proud of any longer.

[Uosdwis]

Is there a survey of how many companies would take on employees if they didn't have to pay them? Would it be near enough to cut the unemployment rate to manageable level (4-5%)? I'm pretty sure the company that laid me off works the remaining slav- I mean, wage-earners harder than ever, on weekends, etc. But if the govt provides the salary, the companies should receive NO benefits other than the help, to maybe incentivise them to bring them back. It's either this, or they need to seriously get the Depression-era projects like WPA and CCC back in action. There ARE things that need to be done, just no one can make a profit anymore, so they don't get done. Then can we maybe start talking about making things that Americans use everyday IN AMERICA instead of China. What the hell would we do if, for some reason, China decided or was forced to stop making our crap?

[texastrixie]

It does appear that if you have a job, everyone (private & govt) is asking workers to work off the clock, on weekends, and its only going to get worse. So many things are wrong in this country. We sold out our economic base so that we could get a shirt for $5 at Walmart (now its $10). We drove out the unions so that anyone stupid enough to ask for a raise can easily be shown the door. We pit our workers against each other so that everyone feels totally alone, and we pay as little as possible and the business community's goal is to pay as close as possible to the minimum wage. I keep hearing how only about 10%-20% of the population makes the minimum wage. I know tons of people on minimum wage, and all the people out of work are giving up and taking minimum wage jobs in retail. Meanwhile, companies are bewildered that no one is buying anything. If you pay people a pittance, they don't buy things. Why is this such a hard concept for business in this country to understand?

[youtubeit]

this economy is in such deep *&^ yet Obamma & Summers live on another astral plane, unwilling to aknowledge reality, even though 995 of Americans expiernceit and KNoW what's going on, and are tired of the BS. hat tip to http://www.iamned.com