The global economic shutdown following the Coronavirus pandemic began with a lot of speculation and fear over the prospective job losses. Three weeks on we have a clearer picture of what is happening and what the future will need in terms of bouncing back from the economic impact. We will take a brief look at how unemployment due to coronavirus is faring and what the likely future holds. Unemployment Due … Read more
Unemployment Benefits in the States has been instrumental in helping many families navigate through financial hardship caused due to job loss. Over 6.3 million people benefited from these benefits during the pandemic. As the economy slowly picks up, many people will find work, but many sectors are still struggling. As people are on the verge of running out of their 26-week unemployment benefit period, they are anxiously looking for options … Read more
The Story of Lisa Parker Lisa Parker, a budding dot com entrepreneur in her late thirties runs a small company that deals with web development and maintenance for local enterprises in Detroit, MI. Her husband works as a marine engineer employed with a shipping conglomerate. Lisa has two kids who are in high school. Lisa’s firm, Web Success is registered as sole proprietorship with the local authorities and she pays … Read more
United States is one of the few countries in the World which provides temporary assistance to jobless workers in the form of unemployment insurance. The monetary compensation helps jobless citizens manage their basic expenses and run their family while they look for new job opportunities and explore career options. As a responsible citizen of the country, one should not exploit the benefits by indulging in acts of fraud. Over the … Read more
Retail Trade is a significant sector in the modern economy. It employs a large number of people across various verticals from food to fashion. The market has players as big as Amazon to small neighborhood artisanal stores. You’d expect retail trade to be hit badly by the coronavirus, but there is a mixed record. What is the unemployment in retail trade looking like? Retail Trading consists of establishments that sell … Read more
The Families First Coronavirus Response Act and the Coronavirus Aid Relief and Economic Security Act mandated paid sick leave to protect workers suffering from COVID-19 or with family laid up due to the spreading pandemic. If you cannot avail paid sick leave, be sure to apply for unemployment compensation. Several states are now passing executive actions to operationalize the CARES act and the FFCR Act. We will outline the intricacies … Read more
In tough economic times, more and more elder people might search for work past customary retirement age. In case they become jobless and do not have sufficient in the way of Social Security payments and other retirement income, they could attempt to collect unemployment benefits as a means to boost their monetary standing. For the majority, collecting both Social Security and unemployment is allowable. Social Security is a part of … Read more
Among the many crises precipitated by the COVID-19 pandemic, the economic collapse and the resultant massive unemployment are uppermost among the public’s minds. The unemployment rate soared to 14.7% in May 2020 from below 3% in December 2019. As jobs have been a much-discussed issue even before the pandemic struck, everyone is wondering what the unemployment rate does not tell you. Many experts had argued that the low unemployment rates … Read more
Partial unemployment insurance programs are meant for full time employees who fail to work the stipulated full-time due to lack of work. Such claims are filed by the employers for employees who do not work full-time during the pay period owing to lack of work or by the employees themselves. This is usually done when employers want to retain employees even though there isn’t sufficient work. Eligibility You still have … Read more
The national average unemployment rate has witnessed a free fall over the last couple of months. Jobless rate last reported for February 2015 was just 5.5%, down by 1.2 percent over the year. Stakeholders across various social and economic groups have been closely tracking progress in their respective segments to monitor the impact of massive job creations in the last two calendar quarters. A recent study by Georgetown University’s Center … Read more