New York State unemployment rate decreases, Obama signs extension which would benefit the unemployed

July 23rd, 2010 - 11:44 pm ICT by Aishwarya Bhatt  

oabam Washington DC, July 23 (THAINDIAN NEWS) In some good news the New York State unemployment rate has declined slightly to close at just 8.3% which is less than the 8.5% threshold.

And in some other good news for the jobless, the US President Barack Obama has signed an extension to the unemployment act, which would greatly benefit all those who are still bereft of jobs. However the decrease in the unemployment percentage would eventually have an impact on the maximum number of weeks that a person who is an inhabitant of New York and is unemployed would get. The weeks are being reduced from 99 to 93 weeks.

According to reports by the News Channel 34, the jobless incentives are going to be extended for a further 93 weeks, because the jobless rate has gone down, even though there is just a slight change in the numbers. The recession times seem to be slowly decreasing and the economy is looking up, even though ever so slightly. However the Federal Reserve Bank of New York isn’t too happy with the economic recovery, because they feel that the industries should aid the economy by generating some more jobs. And this would in turn guarantee more employed people than those that are present in the current scenario.

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