January 28, 2008 11:59 pm
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By Susan Redden
sredden@joplinglobe.com
A Joplin resident who lost his job in December is hoping the economy will get a boost from the stimulus package backed by President Bush in his final State of the Union address on Monday night.
“I have been out there trying to find a job. It is almost impossible,” said Joe Kennedy.
Another Joplin resident who has found a temporary job likes the idea of the tax rebates aimed at encouraging more spending.
William Tylle said he has found a temporary job. He said he is still collecting unemployment and favors proposals to extend unemployment benefits.
“I think they should have spent a little more time on it (the economic stimulus package), but I understand he needed to talk about other things, like Iraq,” Kennedy said after the president’s speech.
An extension of unemployment benefits has been suggested by Senate Democrats, along with rebates for seniors living on Social Security and an increase in home-heating assistance.
U.S. Rep. Roy Blunt, of Missouri, minority whip in the House, is among those who want to see stimulus expenditures focused.
“It needs to be targeted and timely, and work to stimulate the economy,” he said.
Blunt said he believes the most effective measures will be those that create incentives for businesses to put people to work, and buy supplies and equipment. He said the tax refunds that are a part of the stimulus plan probably will have less impact.
John Joines, executive director of the Economic Security Corp., which oversees programs including utility assistance in Jasper, Newton, Barton and McDonald counties, said increased funding “would meet a real need” in that program.
“Within our first month, we’ve already seen 50 percent more people than last year coming for help,” he said. “Utility bills have increased substantially. It used to be that lower-income people couldn’t afford their utility bills. Now middle-income people are hurting as well.”
Kennedy said he agrees with the tax refunds, but he wants to see more tax breaks to stimulate the creation of businesses and jobs.
“Putting money out there will help if everybody spends money,” he said, “but too many are spending money for things that aren’t American-made. That’s what is killing us.”
Both Kennedy and Tylle said they favor extending unemployment benefits, “but it needs to be for everybody, not just people in certain states,” Kennedy said.
A measure to be considered in the Senate is likely to include a 13-week extension of unemployment benefits and a 26-week extension in states where the unemployment rate exceeds 6 percent, aides have said.
Jacqulin Johnson, coordinator of the Rapid Response program with the Missouri Division of Workforce Development, was in Joplin on Monday to offer help to laid-off employees of yet another company.
The Systems & Services Technologies Inc. location on West Seventh Street laid off at least 40 employees earlier this month, in what Johnson said is just the continuation of an alarming trend.
She said she responded to more layoffs in 2007 than in the three previous years that she worked for the division. She said that if companies with 50 or more employees are laying people off, it’s a sure sign smaller companies also are struggling.
“The biggest reasons we hear for employers laying people off is work going overseas and companies downsizing,” she said.
Troy Stovern, a financial consultant with A.G. Edwards in Joplin, said he’s been talking to some nervous clients through this volatile market. The general advice he hands out to everyone: “Don’t panic.”
Stovern said the economy has always been cyclical, and he believes that will continue. He said he agreed with the president’s view that Americans should be confident in the economy.
“It’s not clear we’re in a recession now, but the stimulus package is there to help people,” he said. “It may shorten the duration (of the downturn) and help people weather it a little bit better.”
Unemployment rate
With a December jobless rate of 5.5 percent, Missouri would receive the shorter extension of unemployment benefits, 13 weeks, under the program being proposed in the Senate.
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