Central bank may also decide fate of some emergency programs at meeting
With the economy strengthening but still fragile, Federal Reserve policymakers are expected to hold a key lending rate at a record low this week and will weigh whether to extend some programs that were created to ease the financial crisis.
Fed Chairman Ben Bernanke and his colleagues also are likely to signal that while the recession is winding down, the pain isn't over.
Though the unemployment rate dipped to 9.4 percent in July — its first drop in 15 months — economists predict it will start climbing again. Many, including people in the Obama administration and at the Fed, say it could still top 10 percent this year.
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This is just false hope, I still think it will get way worse before it gets better. I dont think we have seen the worst this storm has to offer.
ReplyDeleteHow is it possible that the UR went down when 250,000 new unemployments claims were filed last week? I can't figure that out. And now there is a proposal to increase UR benifits to 54 weeks. One year and 2 weeks that you get paid for doing nothing.
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ReplyDeleteI've paid unemployment insurance premiums out of my hard earned pay for the past 40 years and until this crash, only used 9 weeks of benefits.
I am unemployed now since last october. You tell me who's hiring in this 9.5% and increasing unemployment market!
Would you rather I be the next to lose my home, or support me as I start up my own business?
This UR of 9.4 is not correct . It is more like 16%. The reason they are saying it dropped is because that is the number of people that their benfits ran out. So they are no longer on unemployment but they are still unemployed.Obama will say anything to make the public believe things are getting better.
ReplyDeleteThe problem is he keeps making it worse by putting more and more people out of jobs. Instead of creating jobs he has lost more jobs in the us than ever before.
FYI 9:25PM You have not paid a dime into the unemployment fund unless you are an employer. Your employeer has paid 100% of the cost of your unemployment. One other thing to think about if you are working at starting your own business while collecting unemployment benifits you are breaking the law. The good news is if you are successful in starting your own business you will change the way you think.
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