The people of a country or organization are the most important assets in the world. Employment is defined as occupied in a job or the state of being employed. On the other hand, unemployment is being out of a job or the state of being unemployed. Although the United States is considered to be a country that is highly developed, over the past few years its unemployment rates have been increasing. The Bureau of Labor Statistics of the United States Department of Labor has reported that in January of 2011, the unemployment rate in the United States was 9%.
The country is faced with an increase in unemployment rates because of competition and the growing population. There continues to be a need for people who are employed every time the population increases. However, the unemployment rate has increased, due to the fact that there are a few job positions available.
Unemployment is also caused by competition of businesses that are managed by offshore companies. Additionally, the county is also faced with technology and seasonal unemployment. Seasonal unemployment is when individuals are laid off from companies of seasonal products, after a season has been completed. However, the primary cause for the increase in the country’s unemployment rate is the financial recession.
Unemployment Extension, which was once known as Emergency Unemployment Compensation (EUC), is a program implemented by the U.S. federal government that helps states to provide individuals with additional weeks of benefits, when they have been laid off due to no fault of theirs. Many persons are finding difficult to locate jobs, due to the current financial situation that the country is facing.
Persons are offered an unemployment extension that consists of four tiers, based on their state’s unemployment rate. If you are finding hard to get employed after searching for a job for an extended period of time, you will be able to go through the four tiers of unemployment extension before your income is cut off completely.
If you are qualified for an unemployment extension, you will be able to receive benefits until the end of 2011. For states that have a high unemployment rate, you are eligible to receive up to 99 weeks of additional benefits, and these federal extended unemployment benefits will also continue through the end of 2011.
If you are unemployed and presently have an unemployment extension of 26 weeks, once your state benefits have been exhausted you will be able to move on to the federal emergency plan.
The present financial recession has caused great damage to the U.S. labor market, and analysts are predicting that the recovery will be slow. Therefore, if you are unemployed you should apply for an unemployment extension to help you get by the tough times.