Effects of Long-Term Unemployment Insurance

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Through econometric regression techniques, this research seeks to analyze data in regard to the effects of Unemployment Insurance Benefits (UI) extended beyond the initial allocation cap on Unemployment. This research will explore the extension of such benefits within the United States through the examination of original research in economics and government databases.

This research will contribute to the current knowledge we have in regard to various social-welfare projects. Previous research on the subject contends the existence of basic unemployment benefits has a positive economic correlation in various areas; however, the data on extended benefit consumption has been varied. The analysis of data pertaining to individuals whose benefit has extended beyond 26 is expected to have correlated a negative impact.

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History of UI

Throughout history modern societies have been subject to economic cycles in which economic booms and down turns occur. In the United States we have seen many low cycles with the most notable down turns being the Great Depression of the 1920r’s/30r’s and more recently the Great Recession that occurred in 2008.

During these times, the unemployment rate (calculated as the people out of work and actively looking for reemployment) generally rises. During the Great Depression of the 1920r’s and 1930r’s, the United States faced some of the largest unemployment numbers ever recorded in history. This economic devastation rendered many people without work, consequently the widespread economic suffering inspired the U.S. government to enact several social-welfare policies. One of these policies was use of Unemployment Insurance (U.I.) benefit programs to ease the intermediate burden of joblessness.

U.I. benefits are intended for people whom have become unemployed through no fault of their own and meet particular eligibility requirements. The social-welfare program supplements the income of the unemployed person(s) while they are searching for other employment opportunities. The U.I. benefits are meant to lessen some of the immediate financial needs to cover essential bills and necessary costs of living (Perez 2015).

Since its creation like many of the other social welfare programs, U.I. benefits have seen many changes in order to adapt to the current situational needs. In general, the maximum duration of U.I. benefit entitlement has been at or below 26 weeks. For the purpose of this research, however, we will examine data where economic recessions have forced the extension of such beyond the traditional amount.

Purpose for Research Initiative

The volatility of economic conditions provided by the interaction between world markets lends a great likelihood for economic declines. For this reason, it is relatively unavoidable to evade periods of increased unemployment rates which lends to the importance of deeper examination of the policies and benefits employed during such occasions. Due to the contradictive positive and negative correlative evidence previously presented by the various studies conducted on this policy,

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