Reports indicate that more job losses came in July, which is a drop overall for two months in a row, as many census jobs were cut but there were reports that private employment rose, which has given hope to some. However, articles continue to point to the fact that the job market is not growing at a rate that can combat the high levels of unemployment and, for many unemployed individuals who have been out of work for 99 weeks or more and have lost their unemployment benefits extensions, this is a major problem.
Reports from the Department of Labor confirm that in July the economy did gain 71,000 jobs from the private sector, but overall employment declined by 131,000 jobs. Yet, this report released concerning the July employment numbers was optimistic and stated that this year 630,000 jobs in the private sector have been created with an average of 90,000 new private sector jobs being opened each month.
The problem that many unemployed men and women face is that they are not seeing these jobs and for many who have been unemployed for the long-term, hope is beginning to dwindle. There seems to be mixed results and reports coming from the job market and unemployment as there are reports of more jobs being added and saved, yet for those who are unemployed have been struggling to find work for months, or 99 weeks or more, there is the question as to where the jobs are and why the unemployment rate stays unchanged. Currently, it’s reported that as of July the unemployment rate is at 9.5%, but with conflicting reports that mention jobs are being added many unemployed men and women are asking that more be done to help those who cannot find employment.
While the idea that a Tier 5 unemployment benefits extension may return with a new bill recently proposed and with extensions to file for unemployment benefits having recently passed Congress, many of the long-term unemployed men and women are hoping that something can be done until jobs return. With so many unable to get a job and having no income there has been a great deal of problems for various areas of the economy, most notably housing.
However, many analysts say that the rate at which the economy was shrinking has halted in the previous year and our economy is now growing again, which is vital for job creation. Yet, the “99 weekers” are in a troubling position and are unsure where to go now. While there have been individuals who have given up looking for a job, there are still millions of unemployed men and women who are applying for countless jobs but are having no luck when it comes to finding employment. While there are proposals to help small businesses grow and hire more workers, at the present time many are simply staying hopeful that more jobs will begin to be added to the economy and long-term unemployed men and women will be able to find the work they need sooner rather than later.