About 43,000 people in Connecticut who receive unemployment benefits from the federal government are in danger of losing them if Congress goes over the fiscal cliff.
If Congress does not reauthorize the program, those who receive the federal unemployment benefits—those on top of what the state gives—could lose them by Saturday, Dec. 29, according to a report by Connecticut News Junkie.
Connecticut gives six months of unemployment insurance, and the federal government kicks in money to fund an emergency extension of benefits when the economy is experiencing times of slow job growth, News Junkie reports. It would cost $30 billion to keep the program going.
The loss of federal money could affect thousands of people right here in Shelton.
There were 1,625 city residents unemployed as of last month, according to the latest statistics from the state Department of Labor. The stats show the unemployment rate in Shelton at 7.3 percent in November. There were 22,405 eligible workers in Naugatuck, and 20,780 of them were employed, according to the report.
Last month, the unemployment rate for Connecticut (seasonally adjusted) was 8.8 percent; 7.7 percent was the national unemployment rate (also, seasonally adjusted).
The unemployment benefit loss is one of the major ways in which Connecticut would be affected if Congress goes over the fiscal cliff. President Obama is currently working with members of Congress in an attempt to find a solution.
Read the complete CT News Junkie article.