Unemployment benefits for 1 million Americans expiring - 13abc.com Toledo (OH) News, Weather and Sports

Unemployment benefits for 1 million Americans expiring

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Saturday December 28th marks the end of the Emergency Unemployment Benefits Program, impacting more than 1 million Americans. President Bush began the program in 2008 during the height of the Financial Crisis when jobless rates were much higher.

While the unemployment rate has come down to about 7%, some analysts estimate that right now 4 million people have been out of work for 27 weeks or longer. What's more, prospects for job seekers aren't looking up. The Washington Post found that the long-term unemployed have just a 12% chance of finding a new position in any given month. Furthermore, research from Northeastern University described how some employers are actively discriminating against the long-term unemployed. In that study, researchers sent out nearly 5,000 fake resumes to employers advertising 600 positions. They found that employers were more likely to call someone back with no prior background in the field than an individual with relevant experience who had been out of work longer than six months.

Currently for every job opening, there are three job seekers. Congress is expected to discuss a bill next year that will address benefits for the long-term unemployed. However, that bill has a $25 billion price tag raising questions of fiscal feasibility.

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