Americans Are Running Out of Unemployment Benefits
Summary
Many Americans are running out of unemployment benefits as it takes longer to find new jobs. Although fewer people are losing their jobs, the slow hiring means some workers lose their income support before securing work.Key Facts
- Unemployment benefits usually last about 26 weeks in most states.
- The number of people unemployed for 27 weeks or more is rising again, now over 1.83 million.
- Long-term unemployment has returned to levels seen before the 2008 recession but remains below the worst pandemic peaks.
- In December, about 26% of unemployed Americans had been jobless for at least 27 weeks.
- Workers in tech, media, and retail industries face longer job searches due to changing roles or fewer openings.
- Many people are working part-time but want full-time work.
- The low unemployment rate hides problems like fewer new hires and increasing long-term joblessness.
- Without extended benefits like during the COVID-19 pandemic, unemployed workers lose income support once their benefits end.
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