Unemployment Insurance Extension Prospects

Wednesday, October 12th, 2011 465 views

Unemployment InsuranceThe American Jobs Act is made up of a provision that could be incredibly stimulative in terms of GDP expansion and jobs growth even though also providing direct relief towards the employees that have been hardest hit by the recession. But in discussions above which parts with the bill to help keep for inclusion within a smaller, bipartisan package following the American Jobs Act is officially killed (later today), that provision does not appear to become common.

Referring obviously to the extension of federal unemployment insurance. Unless Congress acts, on January 1, millions of long-term unemployed workers will start to lose their rewards. In accordance with National Employment Law Project, 6 million would lose their benefits in 2012, and 2.2 million would lose their rewards by mid-February.

In September, the average length of unemployment rose to a record high of 40.5 weeks. Cutting back advantages to 26 weeks would mean the typical unemployed person would go virtually 4 months without having any type of earnings after going six months around the limited earnings unemployment insurance supplies (on common about $300/week, or about 70% in the poverty level for any family of four) . And that could be just the average situation. For millions of unemployed workers the situation will be significantly, much worse.

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Unemployment Benefits Requests Jumped

Monday, September 19th, 2011 576 views

The amount of folks applying for unemployment benefits jumped final week towards the highest degree in 3 months. It’s a sign that the job marketplace remains depressed.

Thursday that weekly applications rose by 11,000 to a seasonally adjusted 428,000. The week incorporated the Labor Day holiday (The Labor Department).

Applications typically drop during short work weeks. In this case, applications did not drop as significantly as the department expected, so the seasonally adjusted value rose. A Labor spokesman mentioned the total wasn’t impacted by Hurricane Irene.

Nonetheless, applications appear to be trending up. The four-week typical, a less volatile measure, rose for the fourth straight week to 419,500.

Applications want to fall under 375,000 to indicate that hiring is growing enough to lower the unemployment rate. They have not been below that level given that February.

The economic climate added zero net jobs in August, the worst showing since September 2010. The unemployment rate stayed at 9.1 percent for the second straight month.

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New York State Unemployment Update

Monday, February 7th, 2011 1,798 views

The financial services in New York State lost 30,000 jobs more than the yr. greater than one-half of the losses on this sector occurred within the securities and commodity contracts market, the NYS Labor Department reported. The number of personal sector jobs while in the State enhanced by 30,500, or 0.4 %, to 6,991,100 in January, as well. Excluding the new York  metropolitan place, New York State’s unemployment rate is as very low as 7.7 %.

New York State adjusted unemployment rate by 8.2% in December 2010, opposed to 8.3% in November. Statistically speaking, the quantity of unemployed New York State residents has dropped from 797 600 in November to 792.8 thousand in December 2010.

Btw, there are information for claimants from NYS Department of Labor below (source) :

  • Tax Form 1099G
    All 1099G forms have been mailed for 2010. By February 16, 2011, you will be able to view and print your 1099G on this website. If you have not yet received this form and need it before that date, you can complete and mail the Request for 1099-G form.
  • New York State Benefit Extensions (Last Updated February 2, 2011)
    Under current unemployment benefit extensions, New York State provides an additional 67 weeks of unemployment benefits for a total of 93 weeks of unemployment benefits. Please continue to claim weekly benefits in the usual manner, unless you receive instructions to file a new claim.
  • New York State’s 3-month average Total Unemployment Rate is 8.2 % (Last updated February 2, 2011)
    New York State’s 3-month average unemployment rate is 8.2%. This falls below the 8.5% average required by the Federal government for people to claim the six weeks of benefits under EUC Tier 4. If you have claimed all EUC Tier 3 benefits by the week that ends August 15, 2010, you can receive the 6 weeks of EUC Tier 4. Then, if you are still unemployed, you can move into Extended Benefits. If you have not claimed all EUC Tier 3 benefits by the week that ends August 15, 2010, you cannot receive Tier 4 benefits. That means you will move from EUC Tier 3 directly into Extended Benefits.