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"The cutbacks, required by a federal law passed in February, are already taking a toll. They are nudging some Americans into poverty, straining social services just as states and localities face their own budget woes and further crimping weak economic growth as those who lose benefits spend less....
......Economists worry most about the likely suspension of all benefits past 26 weeks at year's end. The average unemployed American has been out of work 40 weeks, according to the Labor Department, and there are still about three jobless people for every job opening.
"We're still in a world where you can't expect anybody to find a job within a specific period of time because there aren't enough jobs out there," says Jesse Rothstein, economist at University of California-Berkeley. "I think it still calls for pretty long extensions.".....
.....Since jobless people tend to spend virtually all of their income, the phase-out of benefits may cut up to two-tenths of a percentage point off economic growth over the next year, says Mark Zandi, chief economist of Moody's Analytics.
So we are going to see this start to hit in a big way later 2012 and 2013, perhaps?
Times are going to really suck.
So what do you all do when the unemployment runs out? Has anyone been in this situation? Seems like one would be a few short steps from being homeless if no income to pay for rent/heat/food.
First they should be applying for food stamps. The less income they have the more they will receive. Of course, you have to count on your county handling your application in a timely manner which doesn't always happen. Church members should check with their church for assistance and apply for housing and cooling/heating assistance. The Salvation Army can help you find organizations that can help.
If possible move in with other family. You are going to see a lot more extended families living together as the situation worsens.
How do I know this? We lost our unemployment benefits in April and though I have a small income it's not enough to pay everything that needs to be paid. Without help from some mentioned above we'd be living in a home that doesn't work.
First they should be applying for food stamps. The less income they have the more they will receive. Of course, you have to count on your county handling your application in a timely manner which doesn't always happen. Church members should check with their church for assistance and apply for housing and cooling/heating assistance. The Salvation Army can help you find organizations that can help.
If possible move in with other family. You are going to see a lot more extended families living together as the situation worsens.
How do I know this? We lost our unemployment benefits in April and though I have a small income it's not enough to pay everything that needs to be paid. Without help from some mentioned above we'd be living in a home that doesn't work.
I hope it doesn't come to that, I would be really depressed
I think you have to prepare for it if you can. I have a friend that is losing their house soon and without money doesn't know what they are going to do.
Apparently when you are a contract (1099) worker or your employer went out of business and they can't verify your employment you won't get hired anywhere! Good lord; is that really what we've come down to?
I think you have to prepare for it if you can. I have a friend that is losing their house soon and without money doesn't know what they are going to do.
Apparently when you are a contract (1099) worker or your employer went out of business and they can't verify your employment you won't get hired anywhere! Good lord; is that really what we've come down to?
i still have my letter from the employer confirming they were going out of business.
Either they get a job or they get on welfare handouts.
Don't expect anything to get better for a long long time -- with 2 million people being given work visas, there's going to be a whole lot of competition out there for work.
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