Mass layoffs have been sweeping the country, leaving millions of people unemployed and relying on unemployment benefits to make ends meet.
But the problem is that there are few jobs to be found in this economy and unemployment benefits are meant to be temporary.
For millions, this means unemployment benefits can be exhausted long before they find a job.
Call for Unemployment Benefit Reform
Economists are calling for a reform of unemployment benefits to bring the program up to date with modern times, according to MSNBC.
Currently, only full-time workers are eligible for unemployment benefits after losing a job, and usually only for 26 weeks.
But today there are many more people working part time jobs now than there were in 1935, when the program was established.
In addition, many people cannot qualify for unemployment benefits because state unemployment offices use an outdated system to calculate income and determine eligibility.
Those who can qualify are often unemployed for longer than 26 weeks.
Job Help Needed
In 2008, Congress extended unemployment benefits twice.
Although this extended unemployment benefits by up to 33 weeks, in December there were still about 500,000 more unemployed workers not receiving benefits than a year before.
Economists say that true reform of is necessary to fix the system and that quick fixes by Congress do little to correct the real problems with the outdated program.
No Wonder More People Are Filing Bankruptcy
Approximately 5.2 million Americans are unemployed and not receiving benefits. Many of these people have already collected benefits for 26 weeks and have been unable to find new jobs.
Without assistance, these people are at risk of foreclosure and may file bankruptcy to resolve debts.
Tags: bankruptcy, job help, Unemployment
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