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NewsFlash: October 24, 2007

Cushioning the rock and hard place

Current economic trends put more workers between the rock of protracted unemployment and the hard place of new jobs that pay less than their old ones. As job growth continues its downward trend for the year, unemployment edges up and spells of unemployment grow longer, Congress is debating what to do about unemployment insurance (UI) and a variety of proposals to change or replace it.

A report issued today by the Economic Policy Institute’s Agenda for Shared Prosperity, Urban Institute Economist Wayne Vroman provides lawmakers with the essential facts they need in order to make sound policy. Strengthening Unemployment Insurance: A critique of individual accounts and wage-loss insurance [PDF] provides a detailed analysis of the current state of UI, and assesses the likely effects of various alternatives now under consideration.

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