Word: jobless
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...beginning to think it wasn't the best financial decision to go to law school," says Kathy Woods, who is still seeking work after graduating from the University of California's Hastings law school last spring. "I was a waitress over Christmas," she says. Laments a jobless graduate of the Georgetown University School of Foreign Service who has lived at home since he left school last May: "Of the 30 or so people I graduated with and am closest to, I know of just three who have professional jobs. Others are receptionists or doing things like waiting tables...
Lewis is in good company. Despite a deepening economic recession and a high failure rate for start-ups, more and more out-of-work Americans are striking out on their own. To be sure, starting a business is not a realistic option for most of the 9 million jobless workers in the U.S. But in the bleak employment market, entrepreneurship is suddenly looking attractive to an increasing number of people who have the necessary skills, drive and ideas -- in short, everything...
Another unusual source: the unemployment office. In an adventurous experiment, the states of Massachusetts and Washington are letting the jobless use their unemployment benefits as startup capital. Instead of paying the participants the usual biweekly unemployment checks for six months, Washington State gives them one lump sum. In its Self-Employment and Enterprise Development project, 450 jobless workers since 1989 have collected lump-sum payments averaging $4,200. Among the SEED startups: a plumbing business, a money-management firm, a landscaping company and a tanning salon. Ronald Wilmoth, 43, used his $7,000 check as part of his financing...
After two failed swings at trying to extend jobless benefits for nearly 3 million U.S. workers, Congress and President Bush finally agreed last week on a $5.3 billion compromise package that could give some of the unemployed new checks by Thanksgiving. The agreement would allow workers to collect up to 20 weeks of extra checks after they have used up their initial 26 weeks of benefits. The duration of the additional benefits will depend mostly on individual states' jobless rates, with recipients in the more severely affected regions getting payments longer. The measure will be financed largely by speeding...
...Fund extended unemployment benefits to the jobless, and pay for them by cutting fat in other federal programs like Amtrak and government pensions...