Unemployment insurance ↝ Life insurance

Not extending $600 unemployment benefit would be a catastrophe, say former Fed Chairs Bernanke and Yellen

With expanded unemployment insurance set to expire at the end of the month, two former chairs of the Federal Reserve urged lawmakers to renew the emergency benefits created in the early days of the coronavirus pandemic. “I think, frankly, it would be a catastrophe not to extend unemployment insurance,” Janet Yellen told members of the House Select Subcommittee on the Coronavirus Crisis during a remote hearing on Friday. Currently, many out-of-work men and women are eligible for an additional $600 per week. The additional benefits are a lifeline for those who are out of work, Yellen said, adding that, on a broader spectrum, “We need the spending that those unemployed workers can do."...

How to Claim UIF South Africa: Step-by-Step Guide 2020 ▷ Briefly SA

How to claim UIF South Africa: step by step guide 2020 Depression due to unemployment is one of the most worrying condition that is affecting many people in the society. At times, it becomes a challenge because not so many banks lend the unemployed money. Unemployment Insurance Fund (UIF) stands out in providing unemployed workers with short-term relief. Particularly, UIF South Africa covers maternity, ill, and dismissed workers. Interested members can apply online or visit the nearest labor center for registration. Subsequently, the documents are assessed carefully to ascertain the eligibility of an individual before allowing them the benefits. The ever-rising number of unemployment cases...

Increasing unemployment benefits for the young, VOX, CEPR Policy Portal

What about increasing unemployment benefits for the young? It is well known that workers suffer when they lose their job and experience an unemployment spell – surveys indicate a sharp decrease in happiness, and average consumption falls by around 20% upon job displacement. And much research has studied how to efficiently insure workers against the risk of unemployment. Like any other insurance mechanism, unemployment insurance involves a trade-off between the gains from providing liquidity and insurance to unemployed workers and the cost of the implicit problem of moral hazard. Many authors have concluded that unemployment benefit replacement rates are close to optimal in the US (see for...

Cuomo Blocking Unemployment Benefits to 3,400 GM Strikers Payday Report

ROCHESTER, NEW YORK — In some labor-friendly states like Connecticut and New Jersey, workers are eligible for unemployment insurance when they go on strike. However, in New York, workers are only eligible to apply for unemployment after they’ve already been on strike for seven weeks. In June, though, the New York State legislature passed a bill that would make workers eligible for unemployment insurance after only one week of a strike. At the time, the UAW lobbied heavily for the bill; warning state legislators that a strike was likely at GM. “When we were lobbying, we let them know that this was critical to us here [at GM],” says the hard-nosed UAW Local 1097 Recording Secretary...

How the GI Bill's Promise Was Denied to a Million Black WWII Veterans - HISTORY

When Eugene Burnett saw the neat tract houses of Levittown, New York, he knew he wanted to buy one. It was 1949, and he was ready to settle down in a larger home with his family. The newly established Long Island suburb seemed like the perfect place to begin their postwar life—one that, he hoped, would be improved with the help of the GI Bill, a piece of sweeping legislation aimed at helping World War II veterans like Burnett prosper after the war. But when he spoke with a salesman about buying the house using a GI Bill-guaranteed mortgage, the door to suburban life in Levittown slammed firmly in his face. The suburb wasn’t open to black residents. “It was as...

Unemployment Insurance Adjudicator, Government Jobs

Job Details Unemployment Insurance Adjudicator Are you ready to make a difference in the lives of individuals and businesses in your communities? The Nebraska Department of Labor Adjudication team has an exciting opportunity for individuals who are detail oriented, enjoy daily challenges and variety, and specialize in decision making within the capacity of Nebraska Employment Security Law. These future team members must strive in multi-tasking and communicating in a fast paced and positive team oriented environment. If this sounds like you...apply today! We offer an excellent total compensation package including: 12 paid holidays; vacation and sick leave; State-matched retirement plan;...

Unemployment Benefits Guide

We’re sorry to hear that you are unemployed currently. But it is just a phase and before you know it, your life will be back on track and you’ll wonder why you felt so dejected in the first place. Being unemployed is hard on your finances. Thanks to unemployment insurance (UI), you must be having your basic necessities covered. However, looking for a new job never seemed more important. Drafting a competent resume is a skill in itself and so here are some cool resume writing tips to gather your recruiter’s attention. 1. Be Honest This translates as don’t fabricate information or over exaggerate. Don’t downplay anything either. If you have a skill, describe it in the best possible way and...

One of the worst': how Newstart compares to unemployment payments in rest of the world, Australia news, The Guardian

“For many unemployed people, Australia not only doesn’t have one of the best safety nets in the world, it has one of the worst.” That’s the finding of an analysis of Newstart by the Australian National University’s Prof Peter Whiteford – and comes despite Scott Morrison’s claim in May that Australia’s safety net is a world-beater. There appears to be more momentum now for an increase to Newstart, Australia’s $277.85-a-week unemployment benefit, than there has been for quite some time. But there is still more to say. So consider this, Newstart facts, part two. How does Newstart compare to the rest of the world? Whiteford’s analysis, which first appeared in a piece for Inside Story, used OECD...

Failures of the Unemployment Insurance System, Downsizing the Federal Government

What is cost of insurance for life insurance

Failures of the Unemployment Insurance System The Social Security Act of 1935 established the federal-state unemployment insurance (UI) system, which pays benefits to workers who are laid off. Basic UI benefits are funded by payroll taxes on employers, but in recent years Congress has used general federal revenues to fund a range of extra benefits. With the recent recession and stagnant economy, the cost of the UI system has soared. In 2011, the program will cost taxpayers $134 billion, but the costs are expected to decline in coming years as the economy recovers. Note that "unemployment insurance" and "unemployment compensation" are used interchangeably in referring to the system. This...

How Low Can We Go? State Unemployment Insurance Programs Exclude Record Numbers of Jobless Workers, Economic Policy Institute

Briefing Paper #392 Introduction and executive summary The Great Recession and its aftermath created severe challenges for unemployment insurance (UI) programs in the United States and for jobless workers relying upon them. In this briefing paper, we show that state UI programs are failing their critical goals of income replacement and supporting economic growth. The proportion of jobless workers receiving benefits from state programs, referred to as the UI recipiency rate, fell to 23.1 percent in December 2014—below the pre-Great Recession record low of 25.0 percent in September 1984. Due to the expiration of federal emergency unemployment benefits at the end of 2013, jobless individuals...