New York’s unemployment rate soars

Thursday, 29 January 2009 21:04 Momar G. Visaya AJPress

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"The number of unemployed in the state is at its highest level since October 1993; while New York State reached its highest unemployment rate since June 1994. Since the beginning of the national recession in December 2007, the number of unemployed New Yorkers has increased by more than 50 percent," Neenan added.

In New Jersey, state officials said last week that unemployment is at 7.1%, the same with Connecticut.

The New York figures followed the US Labor Department report, which said that new unemployment claims jumped more than expected earlier this month, as employers continue to cut jobs.

Jobless benefit claims rose to 589,000 in the week ending Jan. 17. Analysts from the Fiscal Policy Institute, a New York-based nonpartisan research and education organization, said that there is need for immediate improvements to New York’s jobless safety net in light of these staggering figures.

"The maximum weekly unemployment benefit is just $405 per week, and has been frozen at that level since 2000. Meanwhile, the average weekly wage has risen over 42 percent since 1999, when the maximum unemployment benefit was set at one half of the average weekly wage. If the maximum benefit level had been adjusted annually to keep pace with changes in the average weekly wage as is done in 32 other states, it would now be $577," the institute said in a statement.

Jobless workers laid off in New Jersey can qualify for $560 per week, and in Connecticut, $519 per week. Other neighboring states like Pennsylvania ($560 per week) and Massachusetts ($628 per week) pay even more.

( www.asianjournal.com )

( Published on January 30, 2009 in Asian Journal New York p. A1 )

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