The majority of the claimants who have applied to avail the unemployment benefits are still in the waiting line for the federal office to sign off the Tier 5 Unemployment Extension program in the year 2010 even the opportunity window is getting short day by day.
However, when President Obama announced another stimulus plan of the economy round which included the increase in cooperate energy and a platform to generate more job opportunities, avoid unemployment completely to drastically decrease its rate, many economists believed this was the correct path for the recovery of the economic pathway but still there are two perspective the government still needs to look after:
- The first one is to help the small companies and provide them the platform to develop and offer new jobs. The survival status of the small companies will ultimately figure out the amount of vacancies that can be generated.
- The other perspective is to avail the social unemployment insurance benefits supply programs.
When the Tier 4 was announced, everyone was waiting for the Tier 5, but there have been many rounds of delay which has resulted in huge confidence related issues in the low-income families. Hence, although it is extremely difficult to balance the two perspectives but it is equally important and necessary to consider them. The Tier 5 unemployment extension has a long way to go but we need to consider it more because it is not merely a simple question of just about another round of unemployment extension.
Dana Anspach is a Certified Financial Planner and an expert on investing and retirement planning. She is the founder and CEO of Sensible Money, a fee-only financial planning and investment firm.