Thanks to the Sequester, federal unemployment benefits will be cut by 17%. There’s no end to Obama wanting to punish the little people because Congress is disobeying his desire to run America into the gutter. LET THEM EAT CAKE!
“NEW YORK (CNNMoney)
Starting this week, many in California collecting federal unemployment benefits will get about 17.7% less than they got last week, thanks to Washington’s across-the-board budget cuts.
Those cuts — the so-called [...]
The Federal-State Unemployment Insurance program paid out $10.3 billion in benefits in 2012 to people who should not have received the money, according to the Department of Labor (DOL).
The data provided on the government website, paymentaccuracy.gov, shows those payments amount to 11.42 percent of all the unemployment insurance checks handed out—an increase from 11.36 percent in 2011 and in excess of the government’s “target” for overpayments of 9.66 percent.
The DOL [...]
Over two million people will stop receiving jobless benefits immediately if Congress doesn’t make a #fiscalcliff deal:
WASHINGTON (KGO) — Millions of unemployed Americans have another reason to worry about “fiscal cliff” budget talks that seek to avoid looming tax increases and dire spending cuts come January.
About 2.1 million people will stop receiving jobless benefits immediately if Congress doesn’t reauthorize federal unemployment insurance programs by year’s end. Another 1 million [...]
Jobless Americans have collected more than half a trillion dollars in benefits over the past five years.
State and federal unemployment insurance programs have cost roughly $520 billion, according to a Congressional Budget Office report released Wednesday.
The price of continuing this safety net will be the subject of intense debate in Congress as lawmakers decide whether to extend the deadline to file for federal benefits beyond year’s end as part of [...]
The big monthly jobs report doesn’t come out until Friday, but no need to wait until then to know September’s unemployment rate: 8.1%.
At least, that’s the best guess of economistsRegis Barnichon andChristopher Nekarda, who in a paper last month laid out a new method for forecasting the unemployment rate. Mr. Barnichon, of the Spanish research institute CREI, and Mr. Nakarda, of theFederal Reserve, plan to start posting unemployment projections based on the new technique [...]
September 18, 2012 at 1:00 am
Unanswered calls, long waits at agency’s offices may get worse
The Michigan Unemployment Insurance Agency answered less than 10 percent of more than a million calls to its customer service lines in August, even as the agency gets ready to lay off more of its staff.
Unemployed workers say they face two-hour waits at the unemployment office and hours of repeat dialing only to be put on [...]
Hundreds of thousands of jobless Americans are losing their federal unemployment benefits earlier than they expected due to new rules passed in February that make it harder for states to qualify for extended jobless aid, the New York Times reports.
At the height of the recession, Congress passed a law to boost unemployment assistance to up to 99 weeks: The unemployed would receive federal money instead of state funds if [...]
From The Economic Collapse:
Why does the state of California seem to be so incredibly hopeless? These days, California can’t seem to do anything right, and if you live in California, things just got a whole lot worse.
Governor Brown has announced that the state budget deficit for this year is going to be much larger than projected, that more government services are going to be cut, and that voters are going [...]
Why does the state of California seem to be so incredibly hopeless? These days California can’t seem to do anything right, and if you live in California things just got a whole lot worse. Governor Brown has announced that the state budget deficit for this year is going to be much larger than projected, that more government services are going to be cut and that voters are going to [...]
More than 230,000 unemployed workers will lose their jobless benefits this weekend as portions of federal programs expire across several states.
All told, 409,300 long-term unemployed Americans in 27 states will have lost upward of 20 weeks of federal unemployment benefits by this past Saturday, even as the many state jobless rates remain high, according to a new analysisby the National Employment Law Project (NELP).
The latest batch of cuts affects 236,300 unemployed [...]
View more videos at: http://nbclosangeles.com.
Thousands of California residents are about to lose their federal unemployment benefits because of the loss of a federal extension.
Mathew Pauley is among the 93,000 people in California set to lose benefits on Saturday. Until recently, he thought he had two remaining months of benefits.
“Thought I didn’t have to worry, I was already getting the federal extension,” Pauley said.
That extension, known [...]
About 93,000 Californians are scheduled to have their extended federal unemployment benefits cut off Saturday because the state is no longer eligible for the long-term aid.
A drop in the state’s unemployment rate to 11 percent — its lowest mark in three years — is triggering the cutoff.
That means the state is no longer eligible for the Federal-State Extended Duration Program, or FED-ED. The program, which began in March [...]
by SIMON BLACK
April 20, 2012
Here’s a fun way to cap off your week.
The Congressional Budget Office has just released three very telling Infographics which, unintentionally, spell out a pretty dreary picture of US government finances.
The first graphic shows US federal revenue, both in raw numbers ($2.3 trillion in 2011) and expressed as a percentage of GDP (15.4%).
There are a lot of interesting things about this graphic. Check out the massive downward swing of payroll tax [...]
MADISON, Wis. (AP) — The federal government has warned Wisconsin officials the state’s unemployment rate has improved enough to end extended jobless benefits.
Wisconsin’s unemployment rate had been high enough to qualify jobless people in the state for 13 extra weeks of federal unemployment benefits. But the state’s three-month average improved to 7 percent in February, making the state ineligible for the extra money.
(Excerpt) Read more at news.yahoo.com …
There was a story on the evening news here in Oregon this week that Oregon is about to lose it’s federal emergency unemployment extension because unemployment has dropped to 8.8% which is the threshold for which states qualify for that emergency benefits extension. The BLS and congress and the White House all say this is GREAT news that unemployment has dropped so far. A lot of people who are still unemployed [...]
NEW YORK (CNNMoney) — Millions of unemployed Americans are waiting for Congress to do something other than trade barbs over their job creation plans.
If lawmakers don’t act soon, the jobless see their unemployment checks start to disappear come January.
More than 6 million Americans are set to lose federal unemployment benefits in 2012, with 1.8 million running out in January alone, according to new figures from [...]
In July, 2.6 million Floridians had exhausted some or all of their benefits.
TAMPA –When President Barack Obama addresses Congress this week about jobs, he’ll have Ellen Turner’s attention.
The New Port Richey resident lost her job as a graphic designer in December 2008. When her unemployment benefits ran out in mid-2010, Turner joined the ranks of a club no one wants to belong to: the 99ers.
While the mainstream media has all but convinced most Americans that the nation is slowly climbing out of the “recession,” new statistics released by the US Department of Agriculture (USDA) suggest otherwise. According to just-released participation numbers for the agency’s Supplemental Nutrition Assistance Program (SNAP), known more commonly as “food stamps,” nearly one in six Americans now participates in the program, which [...]
WASHINGTON — After this week, workers laid off through no fault of their own will not be eligible for any of the generous extended unemployment benefits layoff victims have received from the federal government since 2008.
States typically provide the first 26 weeks of unemployment insurance and Congress has provided extensions during every recession since the 1950s. But the current extensions, which give the unemployed an [...]
DAYTON — Ohio cases of unemployment insurance fraud have more than doubled since the recession began as an increasing number of claimants continue to collect benefits even after they return to work.
The state has recovered more than $42 million in improper payouts over the past five years, mostly from workers who lied about their employment status on unemployment benefits claims, said Ben Johnson, a spokesman [...]
I have demonstrated beyond doubt using the federal weekly unemployment filing data that the ACTUAL number of unemployed is actually far higher than the monthly “survey” shows – I calculate it is low by about 5 million people since LAST YEAR. No way does the unemployment rate now stand at 9.8% when it was higher last year.
That said, HERE is ANOTHER look at data that says I am completely [...]
By Larry M. Elkin, CPA, CFPÂ®
While the press and the blogosphere fixate on the legislative jockeying over income tax rates, a much more lasting issue is being decided in the Capitolâ€™s deepest recesses: Can so-called â€œdeath taxesâ€ be laid to rest?
The federal estate tax has been on hiatus in 2010, but it is due to return with a vengeance on New Yearâ€™s Day. The tussle [...]
WASHINGTON (MarketWatch) — A bill to extend federally-funded benefits for long-term jobless workers failed to pass in the House of Representatives Thursday. To pass the House, the bill needed to capture two-thirds of the votes — 258 lawmakers voted in favor of the extension, while 154 voting against it. The bill would have extended special federal unemployment insurance benefits through February, calling for $12.5 [...]
Unemployed Americans have collected $319 billion in jobless benefits over the past three years due to the federal government’s unprecedented response to the Great Recession, according to a CNNMoney analysis of federal records.
The cost of such benefits will be central to the heated debate in Congress in coming weeks over whether to extend this safety net for the fifth time this year. Lawmakers [...]
Gerald Celente believes that the stock market will crash before the end of 2010 , gold will soar. When gold was at $275 per ounce in 2002, Celente said the price had bottomed and in 2004 forecast the beginning of the â€œGold Bull Run.â€ Since that time, with pinpoint accuracy, he said when, why â€“ and how high â€“ gold would go. [...]
Michael Fleischer, the CEO of an 83-person company in New Jersey called Bogen Communications, reminds WSJ readers of all the various taxes and costs that come with hiring employees.
The bottom line?
Putting $44,000 in an employee’s pocket means paying her a salary of $59,000.
This salary, meanwhile, actually costs the company $74,000.Â And the cost to the company and employee will rise steeply next year, at the [...]
1) State Leaders Brace for Bleak Budget Forecasts (PBS News Hour video…..$140 billion shortfall, 900,000 jobs)
“JIM LEHRER: The nation’s governors are gathering in Boston today for their annual conference. And their major agenda item is the bleak budget forecasts they face.
Margaret Warner has our story.
MARGARET WARNER: Nearly every state in the union began a new fiscal year this month, and the picture isn’t pretty.
With unemployment still [...]
1)Ã‚Â Unemployment hitting state, businesses right in the wallet
“As the jobless rate hovers at its highest level in decades, employers statewide are seeing unemployment insurance taxes rise.
Record claims have exhausted unemployment funds in many states, forcing them to seek loans from the federal government.
The situation has triggered automatic increases in unemployment insurance rates in states like New York that can’t generate enough money to cover jobless benefits.
“We are insolvent,” said Nancy [...]