October 21, 2011 |
Yes, the government provides unemployment insurance, but is there a market for private unemployment insurance? Given the economy's dismal prospects, a seasoned insurance executive and a Penn mathematics whiz are betting the answer is yes. Marketing it under the name IncomeAssure, the Assura Group of NY Ltd. has been rolling out the product since August, as state insurance commissions, including those in Pennsylvania, New...
July 30, 2008 |
Theodore R. Marmor and Jerry L. Mashaw are professors at Yale University Unemployment is not only increasing in a weakened American economy, but many long-term unemployed face the ending of their unemployment insurance (UI) benefits. Congress recently has provided the usual fix - authorization for states to extend benefits for an additional period. This legislative extension is helpful for those battered by the current slowdown. But it does not scratch the surface of the structural problems with the unemployment insurance program that has made it a hollow promise for many workers.
May 3, 2006 |
As if New Jersey didn't have enough financial problems, the state's fund for paying unemployment insurance benefits is so low that a recession could exhaust it in four months. Like many of the state's fiscal woes, this one was avoidable. In the last 14 years, the state has used more than $4.7 billion from the fund, including $350 million in 2005-06, to reimburse hospitals for services they provide to the poor and uninsured. When the diversion started in 1992, it wasn't viewed as a problem.
February 13, 2013 |
In a highly critical letter, U.S. Department of Labor officials have rebuked the State of Pennsylvania for "serious compliance issues" in its operation of the unemployment insurance program. The commonwealth has often underperformed so profoundly in the timely handling of unemployment insurance forms and other matters - many within the last year - that the federal government may consider sanctions that would restrict budget money to the Department of Labor and Industry, according to the letter.
August 24, 2013 |
For the first time since the start of the recession in late 2007, the number of people filing initial claims for unemployment insurance in the month fell to 330,500 a week on average, the U.S. Labor Department reported Thursday. The news buoyed Wall Street, but the national story isn't what's happening in the Philadelphia region. "Philadelphia's economy has struggled this summer," said Ryan Sweet, an economist with Moody's Analytics in West Chester. The last time the national number was so low was in November 2007 - the month before the official start of what economists have described as the worst recession since the Great Depression.
September 5, 2011 |
Freelancers, independent contractors, consultants, day laborers working off the books for cash, contingent workers, temps, virtual assistants, free agents. These are the names for the ever-growing part of America's labor force with an interesting distinction. They aren't employees. Or at least, they aren't on the payrolls of the companies where they spend their days (or work from home) answering phones, installing drywall, conducting research, delivering packages, engineering bridges, staffing help desks, researching logistics issues, writing Internet copy, implementing new software, cleaning toilets.
September 14, 2011 |
Stymied by a relentlessly dismal economy, more Americans were in poverty in 2010 than at any other time since poverty levels were first published 52 years ago, new government figures show. Overall, 46.2 million Americans lived in poverty in 2010, up from 43.6 million in 2009. The poverty standard for a family of four is an annual income of $22,113. The poverty rate last year was 15.1 percent, compared with 14.3 percent in 2009. It was the highest rate in 17 years, according to U.S. Census figures released Tuesday.
November 23, 2002 |
Nearly a million jobless workers will lose unemployment benefits just days after Christmas this year, a date Congress was unable to extend because of disputes between the House and the Senate. Congress adjourned its 107th session yesterday, faltering in a last-ditch effort to help recession victims whose unemployment insurance is about to run out. Earlier this year, Congress approved a 13-week extension of jobless benefits for workers who had been affected by the economic downturn.
April 2, 1993 |
New claims for state unemployment insurance rose in the latest week to the highest level in almost five months, the U.S. Labor Department said yesterday. The increase of 33,000 in the week ended March 27 was not anticipated by economists and is a continuing sign of weakness in the job market. Pennsylvania was the state with the biggest rise nationally in the week ended March 20, the latest week for which individual state figures were available. The report said claims in Pennsylvania that week by individuals newly out of work increased by 1,847 to 20,777.
September 15, 2011
MORE Americans than ever before - 46.2 million - are poor. The U.S. poverty rate - 15.1 percent - is the highest it has been since 1993. Middle-class incomes have fallen to their lowest point since 1997. But as bad as things are, they could be worse. And if our political leaders continue to pursue the wrong-headed policies currently in vogue, they will be. Economic data for 2010 released Tuesday by the U.S. Census Bureau paint a distressing picture of the economic devastation left in the wake of the Great Recession: Nearly a million more Americans lack health insurance than in 2009.