Congress passes unemployment benefit extension

11/05/2009

The number of people who filed for unemployment benefits saw a recent drop, though those who did apply may end up needing some debt management help.

According to the Department of Labor, the number of initial unemployment claims fell to 512,000, a number that was seasonally-adjusted. That number of claims, which covered the week ending on October 31, was down 20,000 when compared to the week before.

The news on unemployment claims came just before the House gave overwhelming support to an extension of unemployment benefits. The Senate already passed the measure, and the House moved it forward by a 403-12 vote.

President Barack Obama is expected to sign the measure, which would extend unemployment benefits by 14 weeks. Jobless people who live in states that have an unemployment rate of 8.5 percent or higher would get an additional six weeks, bringing the total extension to 20 weeks.

Extension of unemployment benefits comes as the government prepares to release the latest unemployment figures. As it stands, the unemployment rate in the country sits at 9.8 percent.

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