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Saturday, September 11, 2010

Will the nations' unemployed job seekers/99ers become a national crisis if nothing is done?

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This is the FIRST of a Series of articles that are being moved over to our blog at "Reach Out Job Search". We apologize for any notification e-mails our readers might receive on these posts. Original Publish Date-August 23, 2010-Detroit Job Search Examiner.
The national rate of unemployment, is currently stagnant. The national unemployment rate of 9.5 percent has been frozen since June 2010. H.R.-4213, Unemployment extension bill, extended benefit payments for job seekers to reach “Tier 4” until November 30, 2010. Michigan's unemployment rate decrease by just .1 percent to 13.1 on August 18.
Regardless, H.R.-4213 did not focus on the real root of the unemployment crisis, the lack of job creation. There are up to 15 million Americans counted in the four tiers of the unemployment extension. In turn, up to 17 million more job seekers are not counted in any charts, surveys or figures.
Who Are in the Groups of The Unemployment Crisis?
• The 99ers-This group has used all of the Federal and State Unemployment Extension Benefit weeks available (between 73-99 weeks). With such, they are no longer being counted in the unemployment rates. It is estimated to be between 1.4-2.5 million 99ers, or about 5 percent of the uncounted unemployed figure. This group continues to grow as more of the jobless runs out of extended payments up to 99 weeks, and join this group.
• The Underemployed-This group earned wages are less than current liabilities (bills) or income. Members of this group are at risk of foreclosure, major debt, and student loan and credit card defaults, along with the 99ers. Similar to the 99ers, they are not counted in current unemployment figures. The underemployed make up 18% of the total unemployment figure.
 Unemployed Job Seekers-Members of this group are the forgotten in the current unemployment debate. “Unemployed job seekers” consists of business owners, contractors, freelancers (self-employed) and other wage earners. Self-employed individuals, that are out of or receiving infrequent orders for work, do not qualify for any Federal or State unemployment insurance supplemental payments. Included in this group are Wage earners, whom lost their prior employment by fault and thereby, do not qualify for unemployment compensation. 
Examining these figures, up to 32 million or 25 percent Americans, are unemployed, underemployed or seeking new employment.
Small Business Lending Has to Pass for Increased Demand
The Small Business Lending bill HR-5297, filibustered in Congress would have given up to 300 million dollars for community banking institutions, to open lines of credit for small business owners. Opportunities on reducing the nations’ daunting employment rate unemployed job seekers, 99ers and the underemployed could have been improved, if this bill was passed. Small businesses create up to 1 of 5 employment openings within this country.
Taking the figure above of 32 million total job seekers, 25 percent or 800,000 new openings for employment, can be created by this bill alone. Incomes earned by these former job seekers, would be placed back into other small businesses, local and state economies; thereby creating more job opportunities by increased demand for services and/or products.
The "Americans Want to Work Act" Offers a Incentive for Employers to Hire Longest-Term Unemployed
Senator Debbie Stabenow (D-MI) bill S-3706-Americans Want to Work Act, provides small businesses with more incentives to hire the longest unemployed job seekers, the 99ers; by allowing small businesses to claim up to a $2000 tax credit for each 99er hired. The bill would allow up to 20 additional weeks of federal extension payments, in states’ were the unemployment rate is above 7.5 percent.
Without both of these bills, the unemployment rate will continue to rise. The demand is not in the market right now, for many employers to hire. Employed individuals are rightfully watching their income and expenses, not knowing if and when they might fall into one of the above noted groups.
What Will Happen, if Nothing Occurs on Either of These Bills?
Meanwhile, unemployment job seekers, 99ers and the under-employed do not have supplemental or extra income to spend, to assist with the robust demand needed to move the nations’ economy out of the current recession. 
Larger employers, Wall Street and other capitalists are holding on to revenue, instead of re-investing, to create jobs. Using the laws of Economics 101, nothing will be fixed, until one of the following groups decides to invest in America and its’ workers:
• Congress and the President
• Big Business
• Wall Street
• Small Business (with open lines of credit)
• Banking Institutions
A Call for Michigan's Unemployed Job Seekers to attend the Jobs, Justice and Peace Rally on August 28th
With the latest disappointing figure in the unemployment rate, it is even more important that Michigan's unemployed job seekers and 99ers, attend the upcoming Rebuild America-Jobs, Justice and Peace Rally in Detroit, Michigan. Unless these important interest group show up in force, to demand job creation in both the state of Michigan and the country as a whole, the economy will continue to move in a negative aspect.
Michigan's unemployment rate only dipped, one half of a percentage point, from 13.2 percent to 13.1 percent reported August 18. This is not enough of a impact, to return up to 500,000 unemployed, underemployed and other job seekers in this state, back to work.
The Rainbow Push Coalition, along with the United Automobile Workers is announcing anRebuild America-Jobs, Justice and Peace Rally on August 28, 2010. The Rally will be held at the UAW-Ford National Program Center at 151 West Jefferson Avenue, Detroit, Michigan, starting at 10:30 AM.
"Reach Out Job Searchfirst of two special 30 minute radio shows on, Monday, August 23th, and Friday, August 27 at 8PM radio shows; in addition to our normal Thursday show at 6PM will focus on coordination efforts for the rally for the 99ers. Call into the program at (347) 934-0185, if you are willing to attend the march, have ideas for the march or are willing to assist with coordination efforts.
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Statement from the Detroit Job Search Examiner-Monica Ross Williams
he Detroit Job Search Examiner wants to apologize to our readers for being inconsistent with the frequency of writing, our readers are used to seeing from us. Our online platform, recently changed behind the scene. With such, it has been difficult to present our articles in the fashion that you have become use to, from us. 
Noting this, we will be producing a series of articles, here on this site and on our blog,"Reach Out Job Search" for explained pictures and or content, which would impact the article. Feel free to reach our content, in both of these areas.
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Stay up to date on the LATEST NEWS on 'Job Search' with the Detroit Job Search Examiner-Monica Ross Williams Articles by clicking the 'Subscribe' button at the top!
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