SSDI recipients affecting unemployment rate
May 7th, 2012|
May 4, 2012
The number of U.S. workers claiming Social Security Disability Insurance (SSDI) has climbed 22 percent in the last five years, according to the Bangor Daily News. Since the 18-month recession began in 2007, 1.3 million Americans have claimed SSDI.
Thus, SSDI recipients may account for as much as .5 percentage of the more than two point drop in unemployment. And that percentage may increase when some extended unemployment benefits expire at the end of this year.
“With a rising number of disability beneficiaries, there is a lower unemployment rate,” a JPMorgan economist said.
Workers on disability rarely return to the labor force, resulting in a loss to society of the economic contribution of those workers. Most people on disability would prefer to work if they could.
To help reduce the strain on the SSDI system and to make it possible for more disabled people to remain in the labor force, most economists believe the system needs to be modified.
If you or someone you know needs help with Social Security Disability benefits, contact the Social Security Disability lawyers at Fleschner, Stark, Tanoos & Newlin.