Unemployment Benefit News review today February 12, 2014:
The two most recent monthly jobs reports were much weaker than expected and are viewed as signs of a slow-to-recovery U.S. economy. This data pairs with news from Fed chair Janet Yellen that federal stimulus tapering will continue in the short term. Concerns that the tapering will continue to diminish chances for the unemployed are growing. Close to 2 million Americans are unemployed right now in the U.S. The current national unemployment rate stands at 6.6 percent and this rate doesn’t include those Americans that have given up looking for work. According to the Bureau of Labor Statistics, over 90 million adult Americans do not currently work and are not currently looking for jobs. Some of these Americans have lost hope and have all but given up on finding an acceptable job. The recent Senate vote not to extend long term unemployment benefits was a critical strike on many Americans at a critical time. The severity of the situation and environment has pressured many Americans away from hope. The over 90 million Americans currently not looking for work represents approximately 37 percent of the U.S. population. 37 percent of the adult American population has lost the motivation to look for gainful employment. The Senate could have given hope with an unemployment benefit extension last week. Now, all the American people have is more worry.