Unemployment Benefits Extensions Unlikely As Reports On Job Market Improve And Jobless Claims Fall

Reports indicated that, in August, businesses were hiring more workers, rather than cutting jobs, which indicates for some that the employment situation is on the rebound. The job market has caused a great deal of difficulty for many across the nation and unemployment has created troubles for areas like housing, which is evident by troubles with foreclosures and the inability of many homeowners to make their monthly mortgage payment.

However, many unemployed men and women have been asking that a new unemployment benefits extension be passed and a tier 5 unemployment benefits option be made available for those who have been unemployed for the long-term. Unemployment benefits extensions have been a highly debated topic over the past months, but it seems that an additional unemployment extension is growing more unlikely as time passes.

With improvements in the job market, which many feel are modest at best, and reports that new jobless claims are down has led many to say that the unemployment situation in our nation may be improving, despite the fact that it will take time. Yet, for those who have been unemployed for the long-term, new jobs are not being created fast enough to keep up with unemployed men and women who are having difficulties meeting their financial obligations.

While assistance plans like home loan modifications and previous unemployment extensions were offered to help homeowners or simply unemployed men and women who were left without an income, there are concerns that more difficulties will arise as more long-term unemployed individuals exhaust their unemployment benefits. While, again, a tier 5 benefits extension has been called for and even suggested by some members of Congress, there seems to be little focus on this issue at the present time.