New York State Unemployment Rate Down, Benefits Extended

July 24th, 2010 - 12:07 am ICT by Angela Kaye Mason  

obama signing July 23 (THAINDIAN NEWS) After the discovery that the unemployment rate for New York State has gone down, the benefits for the state’s unemployment has been extended for those who are still unable to find a place to work. With the New York State unemployment rate which was released for April, May, and June down to 8.3 percent, which is just under the 8.5 percent threshold, President Obama signed the extension which would extend the unemployment benefits for the state for 99 weeks.

According to ‘New Channel 34’ the unemployment benefits in the state of New York will extend for 93 more weeks due to the fact that the unemployment rate has dropped. Congress approved legislation on July 22, 2010 which would extend the eligibility benefits to November 28, of 2010. While the lowered unemployment rate may be good to those who have found work, it is still very bad for those who cannot.

‘The New York Times’ claims that the state is slowly recovering from its own recession, after the national recession which began in December of 2007, and has been claimed to have ended in the summer of 2009, yet the country is still in a massive deficit, and unemployment rates, although lowered, are still very high all over the country.

Manufacturing jobs in New York increased by a mere 0.2 percent in the spring, and was said to have not improved at all during June and July. The Federal Reserve Bank of New York feels that the manufacturing industries are not doing their part to relieve the recession by adding more jobs.

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