Unemployment Benefit Extension News Review today April 11, 2014:
The Senate pushed a deal to extend long term unemployment benefits through this week and the legislation will now have to pass through the House. The deal would reinstate unemployment benefits for over 2 million of America’s long term unemployed. Many of these Americans have been without long term unemployment benefits since December 28, 2013. Many members of the House, including House Speaker John Boehner, believe that the deal to extend unemployment benefits which just passed through the Senate is unworthy of consideration based on its lack of job creating potential.
Republicans are using recent economic data to back their claims that the economy continues to recover and another extension is not necessary. Although March job additions still fell below the average number of additions from 2013, some Republicans believe the lapse in unemployment benefits is pushing many to rejoin the workforce. The most recent Labor Department data may back up this assertion. According to the Labor Department’s most recent report, the number of Americans filing initial unemployment claims dropped to a 7 year low. In the most recent week, people filing for their first week of unemployment benefits dropped by 32,000 to approximately 300,000. This rate is the lowest level for first time claims since May of 2007.
Additionally, Boehner stated on Thursday that the ball is in the administration’s court. He says that he made it clear months ago what would be needed for him to consider an unemployment extension. Right now, Boehner does not believe that President Obama and administration are holding up their end of the bargain.