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Unemployment Extension Update - January 7th, 2012

Unemployment Extension Update – January 7th, 2012

A quick update about the recent Federal unemployment extension legislation that just passed:

Key points:

  • Congress voted to extend Federally funded unemployment benefits through February 2012.

  • This extension does not provide additional weeks. Rather, it allows Americans receiving Emergency Unemployment Compensation (EUC) and Extended Benefits (EB) to continue receiving these benefits through the end of February.
  • 99 weeks continues to be the maximimum number of weeks available (depending on your state).

 

Legislation Background and Details

The recent bill that passed in Congress just before the end of 2011 provides for an extension of the payroll tax holiday, prevents a decrease in physician reimbursement related to Medicare, and allows for the continued extension of Federal unemployment benefits, as described above.

With disagreement between Democrats and Republicans about how to fund these measures, this bill was debated at length. Members of Congress were aiming for a one-year extension of these provisions. A two-month compromise was reached, leading to the Feburary deadline that is now in place.

You can expect to hear more about these programs as Congress votes again in coming weeks.

Extended Benefits Reminder

You may be eligible for Extended Benefits if you have already received the maximium number of state benefits (26 weeks) and EUC benefits (up to 53 weeks, depending on your state).

In order to receive Extended Benefits (which provide an additional 13 to 20 weeks of unemployment compensation), the average “unemployment rate” in your state over the last three months must remain higher than the same figure over the last few years.

Currently, 33 states qualify for Extended Benefits.

 

We wish you prosperity in 2012, and will keep you informed as soon as additional legislation information becomes available.

 


What do YOU think Congress should do about the unemployment situation? Please feel free to share your thoughts below.

 

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3 Out Of 4 Cities Saw A Rise In Unemployment

Each month, the Labor Department measures the unemployment rate in 374 metro areas throughout the country. About a month later, statistics are released.

In June 2010, the unemployment rate rose in 291 out of the 374 areas, according to data released on July 28th, 2010. This increase reflects a change from what we saw in the previous three months, when the unemployment rate was actually going down.

While the statistics are interesting for economists, whether the unemployment rate went up or down is of less importance to people who are out of work. The real question millions keep asking themselves is “Where can I find a job?”

The government is providing some assistance with the latest extension of EUC eligibility through November, but thousands of Americans are still waiting to hear from Congress about the possibility of a Tier 5 extension.

Extension Update - July 16th, 2010

Extension Update – July 16th, 2010

Background

  • Eligibility for additional tiers of Emergency Unemployment Compensation (EUC) expired on June 2nd.
  • Since then, 2.1 million people have lost their unemployment benefits.

New Legislation

  • The House of Representatives passed legislation (HR 5618) that would extend eligiblity through the end of November. The bill would also make benefits retroactive to June 2nd.
  • For the bill to become law, it must receive enough votes in the Senate, and then be sent to the President for approval.
  • So far, the required number of votes (60) in the Senate have not been met.

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What’s Changed?

  • The Democratic Senators in favor of the bill were short one vote because of the passing of Senator Robert Byrd from West Virginia.
  • Today, the governor of West Virginia named Carte Goodwin as a successor to Senator Byrd.
  • Goodwin is to be sworn in on Tuesday (July 20th), and has indicated that he will support the extension.

What Next

  • It is now very likely that a new vote will take place next week after Senator Goodwin is sworn in.