The state has been hit hard by the sharp decline in the insurance and financial services industry, which has eliminated 1,600 jobs since July.
Gov. M. Jodi Rell today welcomed news of the passage of the Unemployment Compensation Extension Act of 2008, which extends federal unemployment compensation for people whose benefits have expired.
The Act provides seven more weeks of unemployment insurance benefits in many cases, but in states where the unemployment rate is above 6 percent – which includes Connecticut – the Act provides an additional 13 weeks of benefits.
Connecticut’s unemployment rate for October, announced today, was 6.5 percent – the same as the national rate. It was 6.1 percent in September.
The state has been hit hard by the sharp decline in the insurance and financial services (IFS) industry, which has eliminated 1,600 jobs since July.
“This much-needed, temporary boost in benefits will provide help to the breadwinners of Connecticut families who are looking for work in a very difficult economy,” Gove. Rell said. “The downturn on Wall Street has been especially difficult for Connecticut, which has such close ties not only to the markets themselves but to related businesses.
“This federal action dovetails neatly with our state efforts to provide a safety net for families caught up in a period of uncertainty and upheaval,” she added.
Gov. Rell also has directed the state Department of Labor to take any steps necessary to expedite the process of approving and distributing the extended benefits.
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