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.
February 13, 2014
Hoop dreams The communities of Abington and Neshaminy should be recognized for the absolutely incredible sportsmanship demonstrated by their varsity basketball teams and coaches last weekend when a Bensalem student with Down syndrome was included in their basketball games ("A special player helps lift Bensalem," Feb. 9). The four-year member of our team who serves as team manager, Kevin Grow, took the court and forged memories for himself and all of us who had the pleasure of watching this fine young man score numerous points.
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.
December 25, 2011
Kat Aaron is a project editor with the Investigative Reporting Workshop at American University in Washington Some call this moment the Great Recession. As the hardship has lingered, others have begun calling it the Little Depression. But equating the hard times of the 1930s with the hard times of today is mostly overblown rhetoric. Or is it? On the surface, the comparisons are obvious: a period of great wealth and exuberance followed by a stock market crash. After the crash, widespread economic pain.
February 4, 2013 |
Social costs are why the government cannot be run like a private-sector firm. Governments should rarely invest in private-sector companies. However, that happened at the peak of the recession when vehicle-makers GM and Chrysler were bailed out. Did the government make the right decision? To answer that you need to know not only the financial returns but also the social costs of not assisting the firms. The U.S. Treasury invested about $49.5 billion in GM and $12.5 billion in Chrysler so they could survive the Great Recession.
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.