I am proud to be here with Senator Stabenow who is leading this effort to remind all of us of our obligations to the most vulnerable Americans--those who have lost their work in this economic crisis, who are looking desperately for work. They have to maintain their families in this very difficult time. Traditionally, we always offer extended unemployment benefits, but memories are too short around here. Let me take my colleagues back a few years to March of 2002 when the unemployment rate was 5.7 percent and we authorized extended unemployment benefits for 2 years and 1 month. Today, we are looking at, in my home State of Rhode Island, 12.3 percent unemployment. The unofficial numbers are much higher because the underemployment rate--people who are working part time, working odd jobs just to get by--adds significantly more people to the under- and unemployed rolls. We have never in this country declined to extend unemployment benefits as long as the unemployment rate was at least 7.4 percent nationally. Today, that rate is about 9.7 percent.
Editor's note · Context
The speaker addresses the need for extended unemployment benefits amid rising unemployment rates.
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