Thursday, April 23rd, 2009
Hearing on Implementation of Unemployment Insurance Provisions in the Recovery Act
U.S. House of Representatives, Committee on Ways and Means, Subcommittee on Income Security and Family Support
Prepared Statement by Heidi Shierholz, Ph.D.
Economist, Economic Policy Institute
We can expect the unemployment rate to continue to rise for at least the next year, reaching 9% by summer, 9.5% for the fourth quarter of this year, and crossing into double-digits sometime early next year. With double-digit unemployment rates, we could expect the number of long-term unemployed workers to climb from its current level of 3.2 million to well over four million. The unemployment rate will likely average 9.5% for 2010, and remain elevated for years to come, continuing the hardship faced by America’s working families.
Read prepared statement (PDF)