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There is something like 20 million people out there unor under employed. your point is well taken about the long-term unemployed and engs extension, former extensions of emergency ui. congress has never allowed the program to expire when we ve had this many long-term unemployed. in fact, it s precisely because of times like this that you need the emergency extension and the implications of a an exploration are very dark on the microlevel, as you imagine, people need the money, given the absence of employment opportunities for them. but also at the macrolevel. this actually hurts an economy that s trying to kind of achieve the velocity that s alluded us thus far. i want to find out how widespread it is. this is a republican rand paul who is making the case against more unemployment benefit, giving the case against the extension. this is rand palm. ....
Here s the other thij. the way the current emergency program is structured, it does phase out as unemployment rates come in then people get less emergency ui. it happens state by state. so the way it s structured, it phases out over time as the economy improves. there is still unemployment benefits, just extended unemployment benefits we re talking about. do you agree with mark? i don t. i think the lengthy unemployment benefits created a real problem. we created the class of folks who are unemployed for longer than a year and it s very, very difficult to reconnect with society. the highest priority now is to develop programs for the long term unemployed who are having a really hard time even getting a job interview right now and focusing on extending the problem i think is the wrong thing to focus on. if you look at president obama s economic speech, the part i liked the best is the emphasis on addressing the long term unemployment problem. he said he was going to meet with a bunc ....
Kind of just let 2 million families it should be extended in my view. the 7% unemployment rate is about where the unemployment rate is in the typical recession. it s still very difficult. if you consider the people who were under employed and given the low wage growth, i think the economy is much too weak at this point. the way the current emergency iu program is structured it does phase out as unemployment rates come in, then people get less emergency ui. it happens state by state. the way it s structured phases out. there s still unemployment benefits. this is just extended unemployment benefits we re talking about. do you argue, mark? no, i don t. i think the lengthy unemployment benefits have created a real problem and we ve created this class of folks who are unemployed for longer than a year that is very, very difficult to reconnect to society. i think the highest priority right now is to develop programs for the long term unemployed who are having a really hard time even ....
That s part of it. it could be that that the expiration of emergency unemployment insurance benefits for some workers, you know, some workers have now been unemployed for a long time. they are running out of the 99 weeks of benefits you can get under emergency ui in some states, and the result is that they are stepping in and now working, finding a job. they are not in unemployment. that s weighing on the labor force. you know, we ve seen big recent declines in the participation rate of female workers, you know, female participation is up. it s a conflufns thinence of th mark zandi, moody s analytics, thanks for helping me break it down. thanks, chuck. mitt romney s southern charm continues in south carolina. romney is just wrapping up a rally with two bold-faced names lending their support, south carolina s governor nikki haley and senator john mccain and romney repeated his attacks on ....
For some workers, you know, some workers have now been unemployed for a long time. they are running out of the 99 weeks of benefits you can get under emergency ui in some states, and the result is that they are stepping in and now working, finding a job. they are not in unemployment. that s weighing on the labor force. you know, we ve seen big recent declines in the participation rate of female workers, you know, female participation is up. it s a conflufns thinence of th mark zandi, moody s analytics, thanks for helping me break it down. thanks, chuck. mitt romney s southern charm continues in south carolina. romney is just wrapping up a rally with two bold-faced names lending their support, south carolina s governor nikki haley and senator john mccain and romney repeated his attacks on president obama and blamed the president on the unemployment ....