PODCAST: Bleak prospects in the new year for the long-term unemployed
The July report from the Department of Labor is expected to show continued slow growth.
Congress dealt with the budget and sequester, but failed to extend Emergency Unemployment Compensation, before it adjourned for Christmas. EUC benefits can last up to 73 weeks, depending on the unemployment rate in a given state. At this point, without further Congressional action expected before the New Year, 1.3 million of the long-term unemployed will lose their benefit checks, which average about $270/week, as of December 28.
Tonight, millions of kids will be revved up in anticipation of tomorrow’s bacchanalia of presents, followed by a nice long break from dreaded school, making this the perfect time for Netflix to unveil its first original series for kids.