$1.2 Million is paid out in the first day of this federal extension of benefits
The latest extension of Emergency Unemployment Compensation was launched by the Colorado Department of Labor and Employment last week. This extension provides additional jobless benefits to Colorado residents who have exhausted their claims. The first deposit of benefit payments, totaling $1,238,056, was paid to 24,000 claimants Thursday of last week.
In an economy still struggling to gain its economic footing, these benefits are a lifeline to families and are widely regarded to be an effective economic stabilizer as the benefits are spent on housing, food, clothing and fuel.
Activating this extension came at a time of year that traditionally sees an increase in initial claims. The Unemployment Insurance Program averaged about 4,500 new claims each week in 2010. But in the first week of January alone, close to 8,000.”
“This turbulent economy has strained our resources,” says Executive Director Ellen Golombek, “and while we have found some solutions, our Call Center problems have not yet been brought under control. We will continue to tackle the problems from all sides with as many ideas and solutions as we can generate.”