Job Market Monitor
Unemployment Insurance
UI in US – States are using COVID relief funds to pay off unemployment insurance debt
Because the COVID-19 pandemic and ensuing recession led to skyrocketing unemployment rates in early 2020, 23 states were forced to take out federal loans to continue paying out unemployment insurance (UI) benefits. While interest was initially waived on these loans, these debts started to collect interest after Labor Day of 2021. In recent months, many … Continue reading
Pandemic UI in US – Ending it increased employment by 4.4 pp while reducing UI recipiency by 35 pp
In June 2021, 22 states ended all supplemental pandemic unemployment insurance (UI) benefits, eliminating benefits entirely for over 2 million workers and reducing benefits by $300 per week for over 1 million workers. Using anonymous bank transaction data and a difference-in-differences research design, we measure the effect of withdrawing pandemic UI on the financial and … Continue reading
Unemployment Insurance (UI) System in US – A plan to reform it
The unemployment insurance (UI) system has played an important role in delivering relief during the current pandemic. At the same time, this experience has highlighted the important challenges facing the UI system due to poor and underfunded administrative capacities, too few unemployed workers qualifying for UI benefits, inadequate levels of regular UI benefits, lack of … Continue reading
UI Weekly Claims in US (week ending April 17) – 547,000, The lowest level for initial claims since March 14, 2020
In the week ending April 17, the advance figure for seasonally adjusted initial claims was 547,000, a decrease of 39,000 from the previous week’s revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week’s level was revised up by 10,000 from 576,000 to 586,000. … Continue reading
EI after Covid in Canada – Unemployment Insurance Savings Accounts (UISA)
Notwithstanding the long history of unemployment insurance programs in Canada, as well as substantial modifications to the programs over time, employers, researchers, and even the current federal government continue to express concerns about the existing Employment Insurance (EI) system. Indeed, in the fall Throne Speech, Prime Minister Trudeau stated that the COVID-19 pandemic has shown … Continue reading
Unemployment Insurance (UI) – Lessons from the American federal‐state system
This article reviews practices in the United States (US) federal‐state unemployment insurance (UI) system regarding applicant eligibility, benefit generosity, benefit financing and emergency measures with the aim of revealing lessons for a possible European unemployment benefit system (EUBS) for European Union (EU) Member States. We overview the US system for UI and examine important areas … Continue reading
Unemployment Insurance In US – Extending benefits to workers in precarious and and nonstandard jobs
Many fear that rapid technical change is raising the rate at which workers are displaced from their jobs, as machines take over many tasks once performed by humans (Brynjolfsson and McAfee, 2014). By shifting the locus of production of many goods from advanced economies to emerging and developing ones, globalization also has contributed to worker … Continue reading
UI during COVID in US – How to improve it
This panel will focus on changes in unemployment insurance (UI) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act and how lessons from these changes can guide reform of the federal-state UI system. For example, what lessons does the CARES Act UI payments experience offer on how we can better promote an equitable recovery? … Continue reading
Pandemic Unemployment Assistance in US ($600 weekly by UI) – Extension would support millions of workers: See updated state unemployment data | Economic Policy Institute
As of last week, DOL reported that over 15 million workers across 48 states and the District of Columbia are receiving or waiting on a decision for Pandemic Unemployment Assistance (PUA) benefits, which underscores the importance of extending benefits to those who would otherwise not have been eligible. Five states have at least a million … Continue reading
UI Weekly Claims in US (week ending May 9) – 2,981,000, a total of more than 36 M for the last 8 weeks
In the week ending May 9, the advance figure for seasonally adjusted initial claims was 2,981,000, a decrease of 195,000 from the previous week’s revised level. The previous week’s level was revised up by 7,000 from 3,169,000 to 3,176,000. The 4-week moving average was 3,616,500, a decrease of 564,000 from the previous week’s revised average. … Continue reading
COVID, UI and Fiscal Policy – Enhancing automatic stabilizers, especially improving unemployment benefit systems and social safety nets, can protect household incomes FMI says
This chapter argues that fiscal policies are at the forefront of facilitating an economic recovery from the COVID-19 pandemic once the Great Lockdown ends. Policymakers can achieve this objective with IDEAS: Invest for the future—in health systems, infrastructure, low carbon technologies, education, and research; adopt well-planned Discretionary policies that can be deployed quickly; and Enhance … Continue reading
COVID – UI in US and in Europe
Consider an average full-time employee in the food industry, who earned around $500 per weekbefore the coronavirus crisis. Average weekly unemployment insurance last year was $378, and now with the extra $600 from the coronavirus relief law, that worker could collect $978 in unemployment benefits each week for two months — nearly double what he … Continue reading
COVID and UI in US – Maximum UI benefits will exceed 90 percent of average weekly wages in all states
WHAT HAS CONGRESS ALREADY DONE TO ADDRESS THE CURRENT CRISIS? The CARES Act—a $2 trillion relief package aimed at alleviating the economic fallout from the COVID-19 pandemic—extends the duration of UI benefits by 13 weeks and increases payments by $600 per week through July 31st. This implies that maximum UI benefits will exceed 90 percent … Continue reading
COVID, Cares Act and UI in US – States struggle to pay out the extra $600
Most other states have started to provide the extra federal jobless aid, though many did so only this week, nearly a month after businesses began shutting down across the country because of the coronavirus outbreak. At least 32 states will provide the extra federal benefits by the end of this week. California, the most populous … Continue reading
COVID and Unemployment Insurance in US – How to make it work for all
Since its creation almost a century ago, America’s safety net has not kept pace with the changing economy. Reforming the Unemployment Insurance program is a case in point. Created in 1935, this essential component of the safety net, which provides a basic level of financial assistance to workers who lose their jobs through no fault … Continue reading
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