Sep 24, 2009 -- Unemployment benefits to be extended in 27 states
CLARKONOMICS: Unemployment benefits are likely to be extended by 13 weeks in the 27 states that have been hardest hit by joblessness.
These states include Alabama, Arizona, California, Florida, Georgia, Idaho, Illinois, Indiana, Kentucky, Massachusetts, Maine, Michigan, Mississippi, Missouri, Nevada, New Jersey, North Carolina, New York, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Washington, Wisconsin and West Virginia.
Again, this has not been signed into law yet, but it is a bill that's destined to become law very soon.
We are in a cycle that likely won't see a decent recovery in the job market until 2011 or 2012. Clark says this reluctantly because, for the unemployed, taking 2010 off the table is dispiriting. The reality is that in 2010 we'll reach equilibrium between job losses and job gains. But we won't see a true recovery until a year or two out beyond that point.