Report: 43K in CT Could Lose Unemployment Benefits

If Congress goes over the fiscal cliff, Connecticut would not receive any more unemployment benefits from the federal government.

About 43,000 people in Connecticut who receive unemployment benefits from the federal government are in danger of losing them if Congress goes over the fiscal cliff.

If Congress does not reauthorize the program, those who receive the federal unemployment benefits—those on top of what the state gives—could lose them by Saturday, Dec. 29, according to a report by Connecticut News Junkie.

Connecticut gives six months of unemployment insurance, and the federal government kicks in money to fund an emergency extension of benefits when the economy is experiencing times of slow job growth, News Junkie reports. It would cost $30 billion to keep the program going.

The loss of federal money could affect hundreds of people right here in Oxford. 

There were 476 Oxford residents unemployed as of last month, according to the latest statistics from the state Department of Labor. The stats show the unemployment rate in town at 6.5 percent in November. There were 7,372 eligible workers in Naugatuck, and 6,896 of them were employed, according to the report.

Last month, the unemployment rate for Connecticut (seasonally adjusted) was 8.8 percent; 7.7 percent was the national unemployment rate (also, seasonally adjusted). 

The unemployment benefit loss is one of the major ways in which Connecticut would be affected if Congress goes over the fiscal cliff. President Obama is currently working with members of Congress in an attempt to find a solution.

Read the complete CT News Junkie article.

Tanya Carver December 28, 2012 at 10:50 PM
Happy New Year to everyone!! By the way, if you have not received this message in your last paycheck for 2012, this is what I got today: "The following changes will appear in your paycheck beginning with your first pay in January, 2013. • The rate for Social Security taxes increases to 6.2% (this rate was 4.2% during 2012 and 2011) • Maximum Social Security tax deductions for 2013 is $7,049.40 (Maximum earnings $113,700) • For earnings exceeding $200,000 the Medicare tax withholding rate increases from 1.45% to 2.35%" The next four years will be tough. Remember "Life is too short", family first and foremost. A Prosperous and Healthy New Year to ALL Tanya


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