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Many jobless don't collect unemployment

Posted By -NO AUTHOR- On 12/04/2012 @ 10:55 am In Money,U.S. | No Comments

(FREEP) — About 2 million jobless Americans fear they’ll lose their extended unemployment benefits, which are slated to end next month unless Congress votes to renew them.

Their concerns make a new finding all the more puzzling: Many people eligible for unemployment don’t even bother to collect it.

In the depths of the recession in 2008 and 2009, only half of those who qualified for benefits applied, a study by the St. Louis Federal Reserve Bank shows.

The portion filing for benefits shot up to 95% in 2010 and 2011, the study says, but that still means about 200,000 people didn’t claim money to which they were entitled.

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