Wednesday, April 15, 2009

Updates on Unemployment in Pennsylvania

With the past month's unemployment figures for Pennsylvania not yet released, it is of note that New Jersey's has risen to 8.3%. While Pennsylvania is still below the national average, the rates have continued to climb in recent months. Of historical note, long time area employers Wolf, Block, Schorr & Solis-Cohen L.L.P, and Northeastern hospital in Port Richmond closed recently.

Every part of the Philadelphia metropolitan area is affected, with equally tough times in Philadelphia and in New Jersey's rural Salem County on the edge of the metro market. One in five of the region's jobs are in Camden, Gloucester and Burlington Counties, but in one year, those same counties have lost a disproportionate share of the work -- nearly 31 percent. Mark Zandi at Moody's Economy.com expects the national unemployment rate to be as high as 9.8 percent by this time next year, with this region's rate not far behind. The dire economic environment has bankrupted unemployment programs locally, forcing them to borrow federal funds.

In the world of Unemployment Benefits in the state of Pennsylvania, there is some good news for those struggling to find employment. The state has extended unemployment benefits. As part of the American Recovery and Reinvestment Act of 2009, also known as Stimulus 2009, there will be a few changed to extended unemployment compensation in Pennsylvania. One of the qualifiers for this program is that the state's unemployment race must be over 7%, which it has. This program offers up to an additional 13 weeks of extended unemployment compensation benefits to those who are qualified and have exhausted all rights and balances on regular or Emergency Unemployment Compensation. The benefits are only payable as long as the state remains in a high unemployment rate. When the unemployment rate decreases as more individuals find work, the Extended Benefit Period will end.

You can watch the growth of unemployment by county in Pennsylvania since the start of the recession on the by clicking on this link

6 comments:

Bliss said...

Looks like the majority of the country is being affected.

Kip Dynamite said...

that graphic is really cool.

Cam Barnes said...

the graphic is interesting to watch. let's hope the updated numbers aren't as bad as people are expecting

Doug said...

that is welcome news about the extension.

ObamaMama said...

wow, i can't believe the numbers are still going down. that graphic really shows how wide spread this is.

Crystal Laker said...

such a sad state of affairs everywhere