Unexpectedly Intriguing!
April 17, 2014

What happens when the long-term unemployed are suddenly cut off from being able to cash in on the federal government's extended unemployment benefits program?

That's the case for millions of Americans who have been unemployed for 27 weeks or longer, for whom the federal government's extended unemployment benefits program expired after 28 December 2013.

Now without that financial assistance for several months, and therefore being highly motivated to find work to replace their lost income from unemployment benefits, we wondered how successful those individuals have been.

Early reports indicate that very little has changed for the employment prospects of the long-term unemployed, at least through the first month of their no longer having unemployment benefits, but what has changed would seem to have changed for the better. Here's an example from Illinois, where 74,000 people lost extended unemployment benefits after the program expired on 28 December 2013:

One month later, 64,000 or 86 percent, still were without work, according to an Illinois Department of Employment Security analysis released today.

With 14% of the long-term unemployed in Illinois having found jobs in just one month according to the state's official statistics, Illinois saw a rate of improvement that's notably better than the 10% to 11% rate of new hiring success that studies indicate is typical for those who have been unemployed for 27 weeks or longer in recent years. That's also remarkable in that January 2014 saw extremely cold winter weather disrupt much of Illinois' economy, costing it billions of dollars.

However, that's only after one month after their extended unemployment benefits expired. The average dedicated job search ranges between three and six months in duration, so we wouldn't necessarily expect much of a change in new-hire statistics for the long-term unemployed after that short a period of time.

We'll have to watch how that continues to play out.

Labels:

About Political Calculations



blog advertising
is good for you

Welcome to the blogosphere's toolchest! Here, unlike other blogs dedicated to analyzing current events, we create easy-to-use, simple tools to do the math related to them so you can get in on the action too! If you would like to learn more about these tools, or if you would like to contribute ideas to develop for this blog, please e-mail us at:

ironman at politicalcalculations.com

Thanks in advance!

Recent Posts

Applications

This year, we'll be experimenting with a number of apps to bring more of a current events focus to Political Calculations - we're test driving the app(s) below!

Most Popular Posts
Quick Index

Site Data

This site is primarily powered by:

This page is powered by Blogger. Isn't yours?

Visitors since December 6, 2004:

CSS Validation

Valid CSS!

RSS Site Feed

AddThis Feed Button

JavaScript

The tools on this site are built using JavaScript. If you would like to learn more, one of the best free resources on the web is available at W3Schools.com.

Other Cool Resources

Blog Roll

Market Links
Charities We Support
Recommended Reading
Recommended Viewing
Recently Shopped

Seeking Alpha Certified

Archives
Legal Disclaimer

Materials on this website are published by Political Calculations to provide visitors with free information and insights regarding the incentives created by the laws and policies described. However, this website is not designed for the purpose of providing legal, medical or financial advice to individuals. Visitors should not rely upon information on this website as a substitute for personal legal, medical or financial advice. While we make every effort to provide accurate website information, laws can change and inaccuracies happen despite our best efforts. If you have an individual problem, you should seek advice from a licensed professional in your state, i.e., by a competent authority with specialized knowledge who can apply it to the particular circumstances of your case.