One hundred twenty thousand Garden State residents, currently collecting federal unemployment insurance benefits, could be cut off at the end of next month because the federal U-I extension program is set to expire December 31st.
The number of people seeking unemployment benefits last week fell by 8,000 to a seasonally adjusted 355,000, a possible sign of a healing job market. But officials cautioned that the figures were distorted by Superstorm Sandy.
State Senate President Steve Sweeney is introducing a bill that would give small businesses a big tax credit for hiring someone who's been unemployed for at least a month - in many cases, up to 3 thousand dollars a year.
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