Jobless Facing Worst Market

 



More than 300,000 workers newly unemployed in November will spend the holidays knowing that they won’t have access to federal jobless benefits.

Even as the Bush administration reshuffles its economic team today, it will not admit that long-term unemployment is a serious threat to the sputtering economy.

The program will expire three days after Christmas, immediately stripping benefits from more than 833,000 workers with thousands to follow.

Those unemployed more than six months increased again this month, to 1.734 million people, up from 1.333 in March.

The leadership of the House of Representatives and the president have turned a blind eye, not just to those families hardest hit by the recession, but also to decades of proven economic policy.

When unemployment benefits expire on Dec. 28, so will the flow of new money.

When workers spend unemployment dollars on basic goods, the money ripples through the economy creating new business. National studies have shown that each $1 of unemployment income leads to $2.15 of economic growth


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