Oye Times

Monday, November 30, 2015 01:23 PM

  Mostly Cloudy
Toronto, Canada

Mostly Cloudy 0°C

A+ A A-

Oye! News from America

The End of Emergency Unemployment Compensation Who Is It Hurting?

The loss of Emergency Unemployment Compensation (EUC) is starting to impact more and more unemployed Americans thanks largely to inaction by the Senate and the House.  Studies show how this impact will grow over the coming year, ultimately impacting millions of jobless workers.
Let's open by looking at the benefits of EUC according to the White House:
1.) 23.9 million workers have received extended UI benefits.
2.) Roughly half of recipients have some college education.
3.) 4.8 million recipients have a bachelors degree or higher.
4.) Including the families of workers, nearly 69 million people have been supported by extended UI or just over one in four Americans.
Here is a graph showing how the cumulative number of EUC recipients has slowed down somewhat since the inception of the program in 2008:
Even though the number of new EUC claimants has declined, growth in new claimants is still quite high, particularly considering that we are five years into the "recovery".
Here is a graph showing how the average length of unemployment is still at extremely high levels compared to all other recoveries:
In January 2014, an average unemployed American worker was jobless for 35.4 weeks, down from just over 40 weeks in late 2007.  Unfortunately, this is more than double the average of 15.2 weeks going all the way back to the beginning of 1948!  This suggests that the problem for long-term unemployed workers in the United States is only going to get worse as time passes unless an extension of EUC is passed.
According to the Centre on Budget and Policy Priorities, an estimated 1.3 million workers were cut off in December 2013 alone when the program expired.  This will grow to 3.2 million by June 2014 and 4.9 million workers by the end of 2014 as shown on this graph:
The National Employment Law Project approaches the situation somewhat differently but comes up with the same conclusions.   They estimate that by March 15th, 2014, 2.126 million long-term unemployed will have lost coverage by EUC, rising to 2.341 million by April 5th, 2014.  An estimated 72,000 unemployed workers lose their state unemployment insurance every week.
As shown on this graphic, the impact on the children of unemployed Americans is starting to climb as well:
By April 15th, 2014, it is estimated that there will be 1,208,096 children that have been impacted by the loss of parental EUC.
Here is a chart showing the number of unemployment claimants that will be impacted by a loss of federal jobless benefits for each state:
You will note that the total benefits lost to claimants by April 5th will be $5.411 billion.
Congressional Democrats are pushing for a six-month extension to EUC through H.R. 3936; previous attempts have been thwarted by Republican filibusters in the Senate.  H.R. 3936 or the "Emergency Unemployment Compensation Act of 2014" was introduced on January 28, 2014 and was referred to Committee.  GovTrack estimates that there is a 2 percent chance of H.R. 3936 getting past Committee.  Bill S. 1845, attempting to achieve the same thing in the Senate, failed cloture on February 6, 2014 and could not move past a Senate filibuster because it did not receive the 3/5ths of the vote necessary to proceed (the vote was 55 to 43 with Republican Senators voting overwhelmingly against S. 1845). 
It is interesting to note that the Congressional Budget Office estimates that, with an extension of EUC, inflation-adjusted GDP will be 0.2 percentage points higher and full-time equivalent employment will increase by 200,000 in the fourth quarter of 2014.  On the downside, the program would result in a net increase in deficits of $25 billion over the period from 2014 to 2023, chump change compared to what Washington can waste on any given day.
I want to close by looking at one group that has been particularly hard-hit by the expiring EUC benefits.  According to the Center on Budget and Policy Priorities, over the past three years, 9.7 percent of unemployment recipients that were looking for work between 27 and 73 weeks after they lost their jobs were veterans.  With about one in 10 EUC recipients being a veteran, this means that nearly 200,000 veterans have lost their benefits by the beginning of March 2014.  
Sometimes, you have to wonder how some of Washington's elite can live with themselves. Perhaps Neflix and its iteration of House of Cards is more realistic than we'd hoped.
Click HERE to read more of Glen Asher's columns

Win Prizes with Oye! Times Get Oye! News


0 #4 Blamebrian 2014-03-07 15:57
Both parties, have decided that their best political ploy to further themselves is to blame the each other. It has become increasingly apparent that they would like to think they know what the populace of the united states wants, however; opinion polls cant solve problems. Most of the time the correct solution is one that takes in to account both sides of the isle. Compromise, has become a dirty word for politicians, but why? I believe that people should compromise on their values or beliefs but like little kids playing with toys you have to share sometimes to build successful relationships.
One such relationship is the relationship between government, unions and business. The fact of the matter is its time not to blame unions or big business unions must exist to ensure that companies do not take advantage of employers and big business employs millions of people, lets not forget that either. Government should not bolster or diminish either but regulate so that unfair advantages and people are well taken care of.
Drilling should be allowed but closely monitored, its nonsensical that we deny US companies to drill however CHINA VENESUELA and a litany of other countries are drilling off our shores and underneath our soil. The reason usually that bad things happen in this industry is not because we need more oversight but better more efficient oversight. However this is not the only solution we need clean energy. It is something that we also need to pursue in less then a hundred years oil will run out and like many people made millions in the early times of oil this will lead to an economic boom.
To look at things through the solidarity of a single view is to be ignorant. Things in real life are not black and white, therefore their solutions are not black and white. we must explore both sides of everything to come up with real solutions. Create more jobs by becoming more transparent and making simple solutions that appeal to businesses. A lot of officials point to profits of companies as a bounce back in businesses, however jobs are not back companies have downsized and become more productive by downsizing and diminishing any waste.
+6 #3 BOTH parties at faultAnnie 2014-03-07 10:31
We send $1B in aid to the Ukraine while 2M+ American WORKERS (not lifetime welfare recipients who never get cutoff) fall into DIRE POVERTY with ZERO income. EUC is a lifeline, not a lifestyle, and none of us is living the high life on approx. $300/week in benefits. EUC needs to be extended until it takes less than 10 months average to land a new job. (Over 50...good luck even getting an interview.) And...the EUC extension not being passed is the fault of BOTH parties. They are playing hot potato with this crisis.
-4 #2 Demand jobs not extended handoutsRobin 2014-03-07 00:27
To any Democrat who wants to read this.

Instead of demanding a couple of extra weeks of EUC handouts why don't you demand work from the government? There is millions of long term unemployed people who have already exhausted all if the euc eligibility and guess what they still don't have jobs. The reason why is that the Democrat in the White House wants it that way. Why don't we all demand that the government get out of the way of business and opportunity. Has anyone noticed all Of the thousands and thousands of oil jobs produced from the Bakken fields in North Dakota and the trickle down effect it has to all other businesses in that area? We could duplicate that triump and get millions of people back to work if we just drill everywhere we can safely do so. Also what's the delay for the keystone pipeline? It's immoral that hundreds of jobs are on hold for 5 years now while the administration delays final approval. Let's demand jobs not handouts that will be temporary and the still no decent well paying jobs in the end.

Also let's drop the affordable care act, I think we all know people laid off due to that monstrosity.
+7 #1 whos it hurtingjeff 2014-03-06 13:36
To any Republican who wants to read this

The End of Emergency Unemployment Compensation Who Is It Hurting?

RadioShack said it will close up to 1,100 U.S. stores after a huge drop in sales during the holidays.
Just when you guys failed to extend Emergency Unemployment Compensation on DEC 29 2014

Staples forecast a fall in quarterly sales and said it would close up to 225 stores in North America by 2015
Where do you think we buy our pens,pencils,paper to write our for our computers so we can find a job

Deep discounting hits Costco profit

Costco Wholesale's profit fell 15 percent, hurt by weaker margins in its fresh-food business and some non-foods merchandises.
NO Emergency Unemployment Compensation We can no food or nothing

Wal-Mart disappoints; food-stamp cuts hurt sales

American International Group reported quarterly earnings and revenue that easily beat analysts' expectations on Thursday
and announced it will cut its workforce by 3 percent because of a charge taken in the fourth quarter.

The Only Dam thing you Republican are doing is hurting the American people .Why dont you open your eyes and get your heads
out of your asses and do the right thing now,Beause in NOV the right thing will be none

Start/Join the discussion about this article!    Comment on this article!

Website registration not required!
Guidelines for Submissions to Oye! Times can be found HERE.

Oye! Try something new

Oye! Worth a try!

Oye! Take a look

Oye! Go For it!

Hot Oye! Stars

  • BarbaraMori
  • chance
  • John
  • namrata
  • shahrukhkhan
  • kareena2
  • SherlynChopra
  • Shahid
  • Hrithik
  • Rani
  • KatrinaKaif

We have 3152 guests and no members online

© All Rights Reserved. Republish with permission only.

Login or Register

Facebook user?

You can use your Facebook account to sign into our site.

Log in with Facebook



or Cancel
User Registration