UNEMPLOYMENT EXTENSION AND STIMULUS UPDATE 11/29/20 (PERMANENT EXTENSION PROPOSED BY STATE)

UNEMPLOYMENT EXTENSION AND STIMULUS UPDATE 11/29/20 (PERMANENT EXTENSION PROPOSED BY STATE)

We are seeing state “extended benefits” for unemployment, expire all over the nation as unemployment rates continue to drop below the state threshold “triggering” extended benefits off; as a result, people across the nation who are still unable to find work are suddenly being cut off from their benefits.

The way this works is “extended benefits” or EB starts when a state is trigger by increased unemployment rates (for many states it is 5%); after this occurs a state will increase how long people can collect benefits. Many states have extended their normal 26 weeks with an additional 13 weeks when the unemployment rate was triggered passed their threshold, and some have even added 20 weeks for a total of 46 weeks of benefits. This coupled with the Cares Act federal benefit of PEUC which adds another 13 weeks gives some states as much as 59 weeks of benefits.

However as mentioned, just as the unemployment rate going up triggers extended benefits “on”, likewise unemployment rates going down, triggers EB “off” as well. In previous videos I’ve mentioned that just recently benefits have already been triggered off in Ohio, Kentucky, Virginia, Colorado, and Kansas. Where suddenly many are losing their benefits seemingly overnight.

Well in the state of Michigan they are now proposing to overrule this regulation and establish a permanent extension of unemployment.
https://www.clickondetroit.com/news/local/2020/11/28/gretchen-whitmer-seeks-100m-stimulus-to-aid-michigan-economy/

The Unemployment provisions provided in the Cares Act are set to expire December 26, 2020. Programs such as PUA and PEUC which expand and extend benefits for over 12 million people, and unless extended by an act of congress, they will expire at the end of the year. Let’s look at where are nation currently stands with these unemployment provisions.
https://www.thestreet.com/mishtalk/economics/no-thanksgiving-cheer-for-the-unemployed

As updates come out, I will be sure to share.
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Видео UNEMPLOYMENT EXTENSION AND STIMULUS UPDATE 11/29/20 (PERMANENT EXTENSION PROPOSED BY STATE) канала Steve Ram