Permanent Article Link Here:
http://www.reuters.com/article/2013/12/03/usa-economy-joblessbenefits-idUSL2N0JI16O20131203
Annotations:
Starting in early 2014, recipients of long-term unemployment benefits will not longer receive such benefits, and the change is predicted to possibly lower the national unemployment rate by a good amount. Because over one million people who currently receive these benefits, when they no longer can, they will either have to take jobs that they would not have previously desired, or be removed from the labor force completely. Either way, this change is bound to reduce the unemployment rate because almost all of these people will no longer be considered unemployed. The result would be a decrease in the rate by as much as a half of a percentage point. (NOTE: in my other blog post, it was reported that the rate fell to seven percent, after this article was published.) Either way, unemployment could be prepared to drop below seven percent for the first time in nearly six years.
Personally, I believe it is good that long-term unemployment benefits are being scaled back. When a person is taking advantage of long-term unemployment benefits, it frequently means that they are either not willing to find work, or are simply not motivated to find work. Either way, they do not deserve benefits for doing nothing at all. The point of having unemployment benefits is to get a person by until they can find a job, not to become their sustainable income for a long period of time. Hopefully this starts to motivate more people to want to work so that the total amount of unemployment benefits being distributed by the government can be reduced as well.
Friday, December 13, 2013
U.S. unemployment rate drops to 7%, lowest since 2008- LATimes.com
Permanent Article Link Here:
http://www.latimes.com/business/la-fi-jobs-20131207,0,5416221.story#axzz2nN5Ohxoz
Annotations:
Over the last month or so, there have been as many as 203 thousand new jobs added to the workforce in the United States, dropping the unemployment rate to seven percent. The jobs that were added were all in non-farming work, and mostly consisted of higher-paying positions within the national labor force. The seven percent rate makes unemployment drop to its lowest rate since 2008, and also brings optimism due to the government implications this holds. With unemployment on the fall, economic recovery shows to be on a track back towards success, and the government now moves closer to easing its stimulus efforts as the country begins to function better with a lesser need for them.
The information presented here gives a very optimistic look for the near future for the United States' economy. As unemployment is scaled back, the economy begins to gain steam, thus making the overall condition of the country improve economically and socially. Hopefully this success continues, and if it does, the United States could be approaching a time of general prosperity that was seen in times like the 1920's and 1990's.
http://www.latimes.com/business/la-fi-jobs-20131207,0,5416221.story#axzz2nN5Ohxoz
Annotations:
Over the last month or so, there have been as many as 203 thousand new jobs added to the workforce in the United States, dropping the unemployment rate to seven percent. The jobs that were added were all in non-farming work, and mostly consisted of higher-paying positions within the national labor force. The seven percent rate makes unemployment drop to its lowest rate since 2008, and also brings optimism due to the government implications this holds. With unemployment on the fall, economic recovery shows to be on a track back towards success, and the government now moves closer to easing its stimulus efforts as the country begins to function better with a lesser need for them.
The information presented here gives a very optimistic look for the near future for the United States' economy. As unemployment is scaled back, the economy begins to gain steam, thus making the overall condition of the country improve economically and socially. Hopefully this success continues, and if it does, the United States could be approaching a time of general prosperity that was seen in times like the 1920's and 1990's.
Subscribe to:
Comments (Atom)