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Labor Market Will Lose 400,000 Jobs in 2013 if UI Extensions Expire
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Labor Market Will Lose 400,000 Jobs in 2013 if UI Extensions Expire

Lawrence Mishel and Heidi Shierholz
EPI, 2012
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Editorial Rating

7

Recommendation

In November 2012, Lawrence Mishel and Heidi Shierholz, both economists at the Economic Policy Institute, published an article arguing that the planned December 2012 expiration of “federally funded extended unemployment insurance (UI) benefits” would have negative consequences for the US economy. Later, Congress voted to extend UI benefits through 2013, but unless the job situation improves, the US will face the same crisis in another year. Though the authors' assessment is light on details, getAbstract recommends it to US policy makers and to Americans who would lose out should extended UI benefits expire – who are many more than just the jobless.

Take-Aways

  • Though the US recession officially ended in June 2009, long-term unemployment persists. Five million US workers have been unemployed for longer than six months.
  • There are 3.4 unemployed workers for every job opening. Thus, the majority of jobless people are unable to find work.
  • "Federally funded extended unemployment insurance (UI) benefits" provide vital support for recipients but also stimulate spending in the economy.

About the Authors

Lawrence Mishel is an economist and the president of the Economic Policy Institute. Heidi Shierholz is an economist who researches trends in the labor market.

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