#unemployment #jobs #economy #s3706 #paygo S. 3706
To extend unemployment insurance benefits and cut taxes for businesses to create hiring incentives, and for other purposes. This Act may be cited as the `Americans Want to Work Act'.
SEC. 3. FIFTH-TIER EMERGENCY UNEMPLOYMENT COMPENSATION.
SEC. 4. EXTENSION OF PAYROLL TAX FORGIVENESS FOR HIRING UNEMPLOYED WORKERS AND BUSINESS CREDIT FOR THE RETENTION OF CERTAIN NEWLY HIRED INDIVIDUALS.
SEC. 5. INCREASE OF BUSINESS CREDIT FOR THE RETENTION OF CERTAIN NEWLY HIRED INDIVIDUALS.
Source: Thomas (LOC)
The employment picture in the U.S. remained bleak last month as the nation's payrolls fell for a second straight month, with private-sector businesses adding a disappointingly scant number of new jobs. The jobless rate held steady at 9.5% in July, the government said on Aug. 6.
The Labor Department said that private employers added just 71,000 new net jobs in July. Meanwhile, the federal government laid off 143,000 temporary census workers, and with budget-strapped local governments also cutting back, the total number of American jobs last month fell by 131,000 from June.
What's more, Labor statisticians revised down the job figures for June, saying that total payroll jobs fell by 221,000 that month instead of 125,000 previously estimated.
Overall, the latest snapshot of the U.S. economy indicates no momentum building in the crucial job market, which underpins consumer spending and confidence on the part of individuals and businesses. After adding 200,000 private-sector jobs on average in March and April, the labor market has weakened – producing just 51,000 jobs on average in each of the last three months. The data are consistent with other economic indicators such as housing and retail sales that have softened since late spring.
Source: LA Times
Pelosi said they didn’t need to obey the Paygo law and add the cost of the unemployment extension to the national debt because the UI checks were the best economy stimulus and would offset the cost of the UE.
The Obama regime’s economy polices have been in place for 19 months. Do you see the economy recovering?
For those that need Tier V and are really trying hard to find a job, I hope you get your Tier V extension.
On the other hand, there was another article this week about employers that can’t fill their job openings. One main reason is some unemployed job “seekers” are not really looking for a job. They are getting as much “free” UI money as they can. Some employers are concerned about Tier V giving more reasons for job “seekers” not really looking for a job.
Why work if you can make more money sitting on your butt collecting a UI check?
Note: S3706 does not insist the Paygo law be ignored.
Update: The House bill HR6091 for Tier V can be found here.
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