
A recent report by JP Morgan Chase claims that the enhanced unemployment benefits, which were enacted to fight the recession, have actually increased the unemployment rate by 1.5 percent. Since the start of the recession, Congress has passed several measures that ultimately have increased the length of time a person can receive unemployment benefits to 99 weeks in some states, with 53 of those weeks fully paid for by the federal government. Congress passes these measures with broad bipartisan support, because unemployment benefits are widely regarded by economists to be among the most effective forms of economic stimulus, since benefits recipients immediately plow the money back in to the economy by using it to pay for things like rent and food. JPMorgan's analyst looks at it a different way: "[T]he availability of these benefits has almost certainly played a significant role in the record rise in the duration of unemployment," the report says. "Consequently, they have also had a role in the stunning rise in the unemployment rate over the last two years."
Source: Huffington Post
Kevin Eason is a freelance editorial cartoonist and Illustrator from


Comments: (4)
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By: ken on 3/30/2010 3:41PM
what a bunch of asswipes!!!!
Unemployment is up because our jobs were moved out of the USA!
These fuks really think people want to live like this? I was making 45K per year,on unemployment last year i made 13K!
Tell you what asswipes at JP MORON,ill trade places with you,you live on my unemployment and i'll take your 6 figure checks,any takers?
then shut the fuk up!
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By: carla ford on 3/30/2010 12:05PM
Don't believe the rhetoric/bull-ish people. They're only concerned about numbers (in the form of prolonged unemployment rates) as people have their benefits extended. They could care less about individual families.
Of course extending benefits will inflate unemployment rates. The people that do these studies are so far removed from financial struggle, who cares what the hell they think.
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By: carla ford on 3/30/2010 12:10PM
So for argument let's say roughly 200,000 peoples' benefits are due to expire around the same time. Once they drop off the roles, the unemployment rate will go down (as they use the # of people collecting unemployment as a gauge for who's not working).
The rate going down doesnt mean unemployment is down-it just means many people are no longer collecting.
But the government will shove this down our throats as proof that the economy is on the rise so people can start spending all their money without knowing if they'll have a job to go to next week.
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By: natentx on 4/19/2010 7:38PM
Hey people. Your great. Thank God some of us out there have brains. Just a quick funny story. In my city JP Moron Puke was hiring for bank tellers. My wife, whos unemployed, like me, applied. The punch line? the job paid min wage! Unbelievable! After all our tax money in bailouts thats what they pay! Listen. We have to take matters into our own hands. All I have to say.
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