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The change takes effect in the coming weeks as some employers across the country are struggling to find workers.
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Oklahoma is the latest state to announce federal jobless benefits will cease.
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Although the overall jobs market is starting to come back, youth unemployment remains stubbornly high, creating a lot of anxiety among the latest class of college and high school seniors.
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A new study looks at the effect of unemployment benefit generosity on employment levels during the Covid-19 pandemic.
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Fraudsters Still Claim Unemployment Relief, As Feds Pump Billions More Into SystemAlmost a year after identity thieves made off with tens of billions of dollars in COVID-19 unemployment relief, the system remains vulnerable. And scammers are coming to light now during tax time.
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Millions who lost jobs at the beginning of the pandemic are still out of the labor force, making up levels of the unemployed not seen since the Great Recession.
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The change is a compromise between progressive members who wanted enhanced benefits for several more months and moderate Democrats who wanted to curb the weekly payments.
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Meanwhile, the unemployment rate dipped to 6.2% last month as the winter wave of coronavirus infections eased.
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Backers of the president's ambitious stimulus plan say it will help struggling families and businesses, but critics say it goes too far.
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Powell warned it will take time to put millions of jobless Americans back to work, while also downplaying inflation threats.