Catherwood LibraryILR School

The Secretary of the Treasury announced today that the Bush Administration plans to use federal funds to make sure that state unemployment agencies, especially New York's, are able to deal with the massive layoffs following in the wake of the terrorist attacks on the World Trade Center and the Pentagon. This announcement was made several hours after a Labor Department report revealed that new unemployment insurance applications have reached their highest point in almost a decade. In addition to shoring up the monetary reserves of states heavily affected by the economic decline of the past few weeks, the Secretary of the Treasury also stated that federal lawmakers are considering an extension of unemployment benefits beyond the normal twenty-six week limit.