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99ers is a colloquial term for unemployed people in the United States, mostly citizens, who have exhausted all of their unemployment benefits, including all unemployment extensions. As a result of the American Recovery and Reinvestment Act passed by Congress in February 2009, many unemployed people could receive up to 99 weeks of unemployment ...
By Christina Scotti Two men named Bob. Both are over 50 years old. Both had been working consistently for nearly three decades before losing their jobs in 2009. Both were out of work for more than ...
This was the result of demobilization and the shift from a wartime to peacetime economy. The post-war years were unusual in a number of ways (unemployment was never high), and this era may be considered a "sui generis end-of-the-war recession". [60] [61] Recession of 1949: November 1948 – October 1949 11 months 3 years 1 month 7.9% (October ...
The share of unemployed who have been out of work for 27 or more weeks (i.e., long-term unemployed) averaged approximately 19% pre-crisis; this peaked at 48.1% in April 2010 and fell to 24.7% by December 2016 and 20.2% by December 2018. [43]
Like "credit default swaps" and "quantitative easing," "long-term unemployment" was a term seldom heard before the 2007 financial crisis. Now it is a very grave reality for 1.3 million Americans ...
Layoffs have been all over the news. More than 150 tech companies alone have said farewell to nearly 40,000 employees, per layoffs.fyi.It’s bad, of course, to be one of those heading out the door.
Long-term unemployment rose to a record high [12] while labor force participation fell off sharply as many of the unemployed gave up looking for work. [13] In an effort to spur economic growth, the Federal Reserve engaged in three rounds of quantitative easing, while the federal funds rate was kept near zero for an unprecedented seven years. [14]
Three years ago, amid recession, Congress sought to lessen the pain by extending the period that the long-term unemployed could claim benefits. As millions of Americans can attest, job loss can be ...