Tag: unemployment insurance news

State’s Unemployment Insurance Fund is falling behind on repaying federal debt

Logan B.
unemployment insurance

California still owes the federal government $8 billion on a loan California is falling behind on repaying a loan to the federal government. The state borrowed $10 billion from the federal government in order to ensure the recovery of its troubled Unemployment Insurance Fund. The fund exists as an insurance pool that is designed to cover the financial issues related to lack of employment. The economic recession that hit the country in 2008 and persisted through the following years placed the fund under a great deal of financial strain. Higher…

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Unemployment insurance costs addressed in Massachusetts

Logan B.
Unemployment Insurance

New legislation focused on unemployment insurance costs passes in Massachusetts Massachusetts businesses are expected to save money on their unemployment insurance coverage thanks to new legislation that has been signed into law by Governor Deval Patrick. The legislation is a compromise between lawmakers that want to raise the state’s minimum wage and those that want to take action on unemployment throughout Massachusetts. The new law is expected to be well received among the state’s businesses, many of whom have been expressing concerns regarding the costs of unemployment coverage. Legislation aims…

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Federal unemployment insurance benefits collapse

Nordstrom
Unemployment Insurance

Legislative inaction could leave people without benefits Some 1.3 million people will lose their insurance benefits at the end of the month due to legislative inaction from the U.S. Congress. Federal lawmakers have declined to renew emergency funding that had been implemented for the federal unemployment insurance program. The benefits provided by this program have provided consumers throughout the country with some degree of financial stability as they look for employment. Unemployment insurance was augmented by emergency funds due to ongoing economic issues throughout the U.S. that made it nearly…

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Unemployment insurance legislation could freeze costs for businesses

H. Cutner
unemployment insurance rate freeze

New bill helps to give companies a bit of a break on the cost of the coverage. Should a new budget bill be passed in Massachusetts after having already advanced in the House as of Monday, it will mean that the unemployment insurance rates that businesses have to pay will be frozen this year in order to avoid a surge in employer fees in order to cover benefits for the jobless. The proposal was made by Governor Deval Patrick to block the increase that had been scheduled. The Governor of…

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Canada to make changes to unemployment insurance regulations

S.Vagus
Unemployment insurance

Unemployment regulations targeted by Conservative government Employment insurance in Canada is undergoing some major changes. The government has announced changes to employment insurance regulations that are meant to address the high unemployment rates the country is facing currently. This unemployment rate is leading to a high payouts, which has put the government under a degree of financial stress. The government believes that these changes to insurance regulations will encourage the unemployed to accept lower-paying jobs or commute to more distant locations, which could get the unemployed back to work and…

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