Latest on Unemployment

Latest on Unemployment

Although the recession is still hurting many, the Brookings Institute shows that Baltimore has fared better than most.  Although employment overall is down, Baltimore ranks 42 in the global recovery standings, while in pre-recession performance, it ranked 109.

Washington had a similar rise, with a rank of 85 before the recession, and 37 according to the “recovery” figures, collected in 2009 and 2010.

This is cold comfort to those still unemployed.  The lame duck Congress failed to extend unemployment benefits, when the Senate failed to approve a one-year extension.  The Republican caucus is already threatening to hold up all sorts of legislation unless Congress extends Bush-era tax cuts for the wealthiest taxpayers.  The Department of Labor reports, though, that the continuation of unemployment benefits lessens the impact of the recession, not just on the jobless and their families, but on the nation’s gross domestic product.  Naturally, the unemployment benefits are quickly spent.

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