Sep 3, 2012
About three million long-term unemployed workers will lose their unemployment benefits by the end of the year. Extended unemployment benefits are ending, and neither Democrats nor Republicans in Congress are doing anything to renew them. In most states, 26 weeks will be the maximum benefits can last. In some states, like Michigan, that maximum will be only 20 weeks – five months.
In the current economy, joblessness lasts a lot longer than five months for a great many people.
For many, it is permanent. Of all the people laid off from January 2009 up to January 2011 – only 56% had found another job by the beginning of this year, and half of them were working for less.
More and more jobless workers are losing their homes. With Republicans and Democrats working equally to seal their fate, the only question is: after the elections, will the shantytowns be called Obama- or Romneyvilles?