Extension to unemployment benefits delayed

By Angela Hawke on Jul 2nd, 2010

Consumers in the midst of unemployment may not be getting a break, even as Congress adjourns for the Fourth of July holiday.

Republicans in the Senate managed to filibuster an extension to unemployment benefits for the third time in three weeks, meaning some people in financial trouble may not get the money they need to pay up on things like credit card debt.

The most recent unemployment figures showed a jobless rate of 9.7 percent in May. While that is a decline from the 9.9 percent seen in April, the majority of the improvement came from temporary work offered by the U.S. Census Bureau.

A recent survey of hiring managers from USA Today and CareerBuilder showed that 41 percent said they would add more work in the next six months, which is in par with what was seen from January to June.

Many experts expect the unemployment rate to remain near double digits for much of the year while the private sector finds it difficult to add more jobs. However, consumer spending has increased of late, which could bolster gross domestic product and encourage businesses to hire.

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