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Politics : Welcome to Slider's Dugout

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From: SliderOnTheBlack	9/3/2009 8:18:48 PM
	3 Recommendations Read Replies (1) of 50433

The New Unemployed: 25% earned more than $75,000 per year... The Associated Press \| 03 Sep 2009 The survey found 60 percent of the recently unemployed lost their jobs without warning, while just 15 percent got some type of severance and almost none were offered retraining. More than half lost their jobs for the first time, while 40 percent had held the same job for three or more years. Job loss also has hit more affluent workers and educated professionals hard, the survey found. More than a quarter of those unemployed for the first time earned $75,000 or more a year. "This is not your ordinary dip in the business cycle," said report co-author and Rutgers professor Carl Van Horn. "Americans believe that this is the (Hurricane) Katrina of recessions. Folks are on their rooftops without a boat. The water is rising, and many see no way out." Full Story at: cnbc.com ----------- 1.6 million Americans will run out of unemployment benefits by year end.... These are the most unfortunate of America's 14.5 million jobless: the ones whose benefits are drying up — in some cases after a record 18 months of government support. With savings depleted and job opportunities scarce, people are living with relatives and borrowing cash from friends. They are even skipping meals. Through it all, they are trying to stay positive through exercise and prayer. The government said Thursday that 570,000 laid-off workers filed new claims for unemployment benefits last week, bringing the number of people receiving benefits to 6.23 million. The Labor Department is expected to report Friday that the August unemployment rate rose to 9.5 percent, up from 9.4 percent in July. cnbc.com ----------- SOTB

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