House votes to extend unemployment insurance


Washington, D.C. -— U.S. Rep. Bob Etheridge (D-Lillington) today joined a majority of his colleagues in the House in voting for legislation to extend unemployment insurance.

“With the number of Americans looking for work growing, and the number of American jobs decreasing, this bill will help those Americans suffering in this sluggish economy,” said Etheridge. “By extending unemployment insurance, this legislation will also stimulate the economy by helping American families to purchase life’s necessities.”

H.R. 5749, The Emergency Extended Unemployment Compensation Act would immediately provide up to 13 weeks of extended unemployment benefits to workers exhausting the 26 weeks of regular unemployment benefits. The bill will provide relief for an estimated 153,026 North Carolinians. The state’s unemployment rate was 5.4 percent in April. The benefits will be financed by federal unemployment trust funds, which currently have more than $35 billion in reserves.

Etheridge has been advocating for the unemployment benefits extension since the beginning of this year. The legislation must now be passed by the Senate and signed by the President to become law. President Bush has threatened to veto the bill, even though there are now 200,000 more long-term unemployed Americans than there were the last time he signed an unemployment insurance extension in 2002.

The U.S. economy has now lost jobs for five consecutive months. Last month the unemployment rate experienced its biggest one-month jump in more than two decades, climbing from 4.5 percent to 5 percent. Additionally, rising gas and food prices are making it even more difficult for unemployed workers to make ends meet.

The benefits extension will also help to stimulate the economy, Economists estimate that every $1 spent on unemployment benefits generates $1.64 in new economic demand.