Clark Howard's Tips

Unemployment compensation extended for 13 weeks

July 3, 2008

Several surveys -- including the official one from the feds -- show that payrolls are shrinking. Yet the unemployment rate stayed steady at 5.5 %. How can that be? Some economists think job seekers are discouraged and have stopped looking for work. That's still anecdotal at this point.

Yet the reality is that while things have gotten tougher, it's not a disaster. Many people hear the news about the job market and think things won't improve. But that's not the way capitalism works -- we go through cycles.

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Unemployment likely will rise over the next year. But even so, there's always someone hiring. Networking can help you ferret out those offers.

Meanwhile, if you've been unemployed and have exhausted your benefits, Clark has some good news. Pres. Bush signed a law that extends benefits for 13 additional weeks for those who are actively seeking work. For full details, see the text of the new law.

Don't delay or you may forfeit a portion of the benefit. Contact your state's Department of Labor to renew.

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