The President’s proposal contains three core elements:
- Protecting Workers with Wage Insurance: The President’s plan would ensure workers have access to wage insurance that would replace half of lost wages, up to $10,000 over two years. Displaced workers making less than $50,000 who were with their prior employer for at least three years would be able to leverage these resources to help them get back on their feet and on the way to a new career.
- Strengthening Unemployment Insurance (UI): The President’s plan would address holes in our UI system – including by expanding coverage to part-time, many low-income, and intermittent workers, and workers who leave work for compelling family reasons. It would also ensure that states provide at minimum 26 weeks of coverage.
- Making it Easier for Workers to Retool and Retrain: The President’s plan would make it easier for companies to avoid lay-offs through work-sharing, while incentivizing states to offer and allow retraining for workers on UI or to provide relocation vouchers or subsidized employment. In addition, it would expand intensive career counseling to the long-term unemployed, discouraged, and part-time workers.
Chosen excerpts by Job Market Monitor. Read the whole story at FACT SHEET: Improving Economic Security by Strengthening and Modernizing the Unemployment Insurance System | whitehouse.gov
Why Obama wants a new unemployment insurance plan
On Saturday, President Obama proposed a new unemployment benefit and wage insurance plan for the 2017 federal budget.
Chosen excerpts by Job Market Monitor. Read the whole story at Why Obama wants a new unemployment insurance plan – CSMonitor.com