Long-Term Unemployment Hits 25-Year High
The Labor Department reported this morning that the number of Americans drawing long-term unemployment benefits spiked by 122,000 to 3.84 million in late October.
It was the highest level since early 1983, when the nation was trying to pull itself out of a recession.
Laid-off workers can typically draw unemployment payments for 26 weeks. House Democrats are pushing for an extension of benefits as part of the second stimulus package being urged by House Speaker Nancy Pelosi (D-Calif.).
-- Frank Ahrens
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