Bust Or Boon: Comparative Study Of Unemployment Compensation

Sounds like a dissertation paper and long winded one at that. It is not so. I simply wish to stress how important it is for those of you that are on Unemployment Compensation to do some homework. Or just read on and I will offer up a few things to think of.
When it comes to Unemployment Compensation, the place you live can be a bust or boon.

Take Massachusetts, 2007 and 2008 saw a steady migration of the out-of-State unemployed coming to Massachusetts to apply for Unemployment Compensation. And why? $778. That is the max that can be taken out per week when claiming your weekly benefits. Look at the max that Florida has. $275 can be claimed per week. It matters not how much you made before you were unemployed. You could have been pulling $800 a week, you still get max of $275. And this this Florida! Is there any wonder that this State is hemorrhaging mortgages?

Unfortunately for anyone considering hitting the road to Massachusetts, the State already suffering from 5.5% unemployment in October, saw it rise to 5.9% in November, will no longer take out-of-State claims. Sorry. But I see it as totally impossible to get by with Mickey Mouse math that Florida uses. A basic one bed-room apartment on the down end in Florida usually runs about $650.00/month.(I know this because I lived there) Good luck if you are thrust into unemployment there.

The Good thing About Unemployment Compensation.

Well, I think the only thing good about Unemployment Compensation is not actually being on it. However, there is one good thing. Normally, the average length of benefits is about 26 weeks. It varies from State to State. However, our present rather dire times created something interesting. On November 21, 2008. President George Bush signed the the Unemployment Extension Act of 2008. For those of you confused about this, here is what it means: you get a extension of another 7 additional weeks of coverage plus if your State is at 6.0% Unemployment you get an extra 13 weeks. So make sure you look at the State in which you are claiming.

A Parting Shot

I sincerely believe that unemployment is becoming a political football that could divide us. I have been reading blogs that seem to be passing judgment on something that has not even been implemented yet. That is the President-elect Obama's economic stimulus plan. Of course, it looks like a true juggernaut. Estimates are at $775 billion! Seems daunting, but so does a unemployment rate of 8 or 9 percent. It may end up that it will go far into the “T” range: 1 Trillion!

This has caused quite a number of groans and grumblings from bloggers. Notably, those that are
using this plan as way to criticizes the in coming president. It's scope has been compared to FDR'S New Deal. Bloggers and pundits were all over that. Many, apparently who never actually studied history, complained that it was world war II that solved the Great Depression; thereby trashing FDR and Obama all at once. However, look at the unemployment rate in 1933. It was at an astronomical 24.9 % But by 1940, it was cut in half to 14.6.% Eventually FDR's plan could have worked.(That is me speculating). World War II had just quickened the process out of the depression. So you see, these poorly thought out blogs, put together quickly to turn heads, to justify a political point given with generalizations that Americans are so use to, only lowers us all. What bothers me is this:
Why make such a heart rending subject as unemployment a political hot object? Could it be that what we are seeing is a war between those the never been unemployed and those that have been and remain unemployed?
I think the Great Depression and even to a much larger extent, WWII , had brought Americans together. Yet, bloggers,who are so use to division can not help split us apart with empty self-righteous words. Until next time.
Take care,
Courteous Navigator