Unemployment benefits whittled down:
Although Congress reauthorized federal emergency unemployment benefits earlier this year, lawmakers reduced the weeks the jobless can collect payments. The cutbacks come in two phases -- one now and another in September. This round affects the jobless in at least 24 states, while all Americans will be affected in the fall. Ref. Source 2
The U.S. Economy added 96,000 jobs in August, down from 141,000 in July, the Labor Department said today.
The report is well below forecast and another sign of a fragile economic recovery. Economists polled by CNNMoney were expecting 120,000 jobs to be added.
Economists say at least 150,000 jobs must be created each month simply to keep pace with the growing population. Ref. CNN
Cuts in US jobless pay, government layoffs throw 1.5 million more people into poverty:
One day after the conclusion of the Democratic Party convention, the Center for Budget and Policy Priorities (CBPP), a nonprofit think tank, released a report showing that cuts in jobless pay and mass layoffs of public-sector workers threw over 1.5 million more people into poverty last year. Ref. Source 3
Real Unemployment Reaches 20% In 7 Colorado Counties:
In seven counties in Colorado unemployed individuals are close to or exceeding 20% of the population, a letter from the Chief Economist of CDLE to the U.S. Department of Agriculture says. Ref. Source 1