This past twelve months was the year in which over 20 million Americans collected unemployment insurance and the national unemployment level reached 10%. Even though the pace of people applying for unemployment insurance benefits has dropped in recent months, experts tell us that that is no indication that the overall unemployment picture is getting that much better. In fact they are saying that the rate of long-term unemployment continues to grow.
Companies will be hesitant to hire workers until they are absolutely sure that the economic recovery is sustainable. In fact government officials are expecting that the unemployment rate will fall to 9% but remain that way for much of 2010. One expert said that while fewer people are getting laid off, fewer people are able to find work and that is essentially the problem.
There are also close to 5 million people receiving extended unemployment insurance benefits that are due to run out at the end of February. One of the other alarming statistics states that for every job available in the United States at the present time there are six applicants looking for work.