Obama signs bill extending jobless benefits
As many as 40,000 jobless Illinois residents, who would have exhausted their unemployment benefits by the end of the year, will benefit from a bill President Obama signed today extending those benefits up to 20 weeks.
The extension will help 28,000 unemployed in the state whose benefits already have been exhausted and 12,000 more individuals here whose benefits will run out by the end of the year. That is according to the Illinois Employment Security Department.
Nationally, almost 2 million people out of work nearly a year or more will be helped.
The legislation extends unemployment insurance by up to 14 additional weeks in every state and an additional six weeks in states with unemployment levels over 8.5 percent, and it applies to unemployed workers whose benefits have run out or will run out by the end of the year. The unemployment rate in Illinois is 10.5 percent.
Those whose benefits already have been exhausted will need to reapply to get the extension.
The bill-signing at the White House Friday came a day after the House, displaying rare bipartisan agreement over the seriousness of the jobless situation, voted 403-12 for the measure. The Senate approved it unanimously on Wednesday.
The White House said the law, which also includes tax cuts for struggling businesses, builds on provisions in the $787 billion stimulus package enacted last February that aim at spurring job creation.
"With Illinois' unemployment rate still over 10 percent, many families need this extension," said Michael T. Carrigan, president of the Illinois AFL-CIO. "For most, their unemployment check is what keeps food on the table, and as we head into winter, their homes heated. Our economy is slowly rebuilding, but until the job market rebounds we have to protect those who have lost their jobs."
Typically, workers are entitled to 26 weeks of unemployment benefits. But in the wake of sky-high unemployment brought on by recession, Congress has repeatedly extended the benefits allowing some long-term unemployed to now get up to 99 weeks of benefits with the latest extension.
The cost for the latest extension is $2.4 billion, to be paid for by extending an unemployment insurance payroll tax that employers must pay.
In Illinois, the maximum benefit allowed is $559 a week. That is for a married individual with children who made at least $21,255 last year. For a single individual making that amount, the maximum is $410 a week.
Contributing: AP