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November 21, 2008 President signs bill to extend unemployment benefitsPosted: 10:30 AM ET
Business Correspondent Jennifer Westhoven This story could make a huge difference for you if you suddenly lose your paycheck.
Congress and the President have recognized the difficulties people face in the current job market. President Bush just signed into law the bill passed by Congress that says people on unemployment get a little more time to breathe easy. Typically, you get 26 weeks of unemployment checks; and a good general rule of thumb is that the checks are about half of your last paycheck. The average check is for about $292 a week. With the extension, you’ll get an extra seven weeks of benefits (so that’s 33 weeks in all). If you live in a very hard-hit state where the jobless rate has been above 6% for more than three months, you’ll get another 13 weeks on top of that. It makes sense, because it’s taking longer and longer to find a job these days. The rules can really vary depending on what state you live in, so to find out how it affects you, click on your home state on this map from the Labor Department: Posted by: Business Correspondent Jennifer Westhoven
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