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Trading MarketsWith unemployment rates nearing 10 percent Senate Democrats Thursday introduced legislation to extend benefits for the out of work.
The bill, brought forward by Senate Majority Leader Harry Reid, D-Nev., Senate Finance Committee Chairman Max Baucus, D-Mont., and Sens. Jack Reed, D-R.I. and Jeanne Shaheen, D-N.H., provides for a 14-week extension of unemployment insurance benefits across the country.
It would also extend for six additional weeks benefits in states hardest hit by the downturn, where unemployment rates are above 8.5 percent.
"This agreement recognizes the need to extend unemployment benefits for workers in every state whose unemployment benefits have run out or will do so in the next several weeks," Reid said. "More important for Nevadans, our compromise recognizes that workers in the hardest-hit states have even greater challenges finding work and are in the greatest need of assistance."
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I'm glad that all states will be seeing an extension of UI benefits. Now just get this in place soon, please.