Download or read book The Economic Benefits of Extending Unemployment Insurance written by The Council The Council of Economic Advisers and the Department of Labor and published by CreateSpace. This book was released on 2014-10-30 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States economy continues to recover from the worst economic crisis since the Great Depression, and while substantial progress has been made, more work remains to boost economic growth and speed job creation. Despite ten consecutive quarters of GDP growth and 8.2 million private sector jobs added since early 2010, the unemployment rate is unacceptably high at 6.7 percent, and far too many families are still struggling to regain the foothold they had prior to the crisis. The Emergency Unemployment Compensation (EUC) program authorized by Congress in 2008 has provided crucial support to the economy and to millions of Americans who lost jobs through no fault of their own. EUC ended on December 28, 20131. This report argues that failing to extend EUC would be harmful to millions of workers and their families, counterproductive to the economic recovery, and unprecedented in the context of previous extensions to earlier unemployment insurance programs.
Download or read book Supply and Demand Effects of Unemployment Insurance Benefit Extensions Evidence from U S Counties written by Klaus-Peter Hellwig and published by International Monetary Fund. This book was released on 2021-03-12 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: I use three decades of county-level data to estimate the effects of federal unemployment benefit extensions on economic activity. To overcome the reverse causality coming from the fact that benefit extensions are a function of state unemployment rates, I only use the within-state variation in outcomes to identify treatment effects. Identification rests on a differences-in-differences approach which exploits heterogeneity in county exposure to policy changes. To distinguish demand and supply-side channels, I estimate the model separately for tradable and non-tradable sectors. Finally I use benefit extensions as an instrument to estimate local fiscal multipliers of unemployment benefit transfers. I find (i) that the overall impact of benefit extensions on activity is positive, pointing to strong demand effects; (ii) that, even in tradable sectors, there are no negative supply-side effects from work disincentives; and (iii) a fiscal multiplier estimate of 1.92, similar to estimates in the literature for other types of spending.
Download or read book Economic Impact of Recent Temporary Unemployment Insurance Extensions written by and published by DIANE Publishing. This book was released on with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Extending Unemployment Compensation Benefits During Recessions written by Julie M. Whittaker and published by Createspace Independent Pub. This book was released on 2012-12-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report describes the history of temporary federal extensions to unemployment benefits from 1980 to the present. Among these extensions is the Emergency Unemployment Compensation (EUC08) program created by P.L. 110-252 (amended by P.L. 110-449, P.L. 111-5, P.L. 111-92, P.L. 111-118, P.L. 111-144, P.L. 111-157, P.L. 111-205, P.L. 111-312, P.L. 112-78, and P.L. 112-96). This report contains five sections. The first section provides background information on unemployment compensation (UC) benefits. It also provides a brief summary of UC benefit exhaustion and how exhaustion rates are related to the business cycle. The second section provides the definition of a recession as well as the determination process for declaring a recession. It also provides information on the timing of all recessions since 1980. The third section summarizes the legislative history of federal extensions of unemployment benefits. It includes information on the permanently authorized extended benefit (EB) program as well as information on temporary unemployment benefit extensions. It also includes a brief discussion on the role of extended unemployment benefits as part of an economic stimulus package. The fourth section provides figures examining the timing of recessions and statistics that may be considered for determining extending unemployment benefits. The fifth section briefly discusses previous methods for financing these temporary programs. In particular it attempts to identify provisions in temporary extension legislation that may have led to increases in revenue or decreases in spending related to unemployment benefits.
Download or read book Optimal Unemployment Insurance written by Andreas Pollak and published by Mohr Siebeck. This book was released on 2007 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Designing a good unemployment insurance scheme is a delicate matter. In a system with no or little insurance, households may be subject to a high income risk, whereas excessively generous unemployment insurance systems are known to lead to high unemployment rates and are costly both from a fiscal perspective and for society as a whole. Andreas Pollak investigates what an optimal unemployment insurance system would look like, i.e. a system that constitutes the best possible compromise between income security and incentives to work. Using theoretical economic models and complex numerical simulations, he studies the effects of benefit levels and payment durations on unemployment and welfare. As the models allow for considerable heterogeneity of households, including a history-dependent labor productivity, it is possible to analyze how certain policies affect individuals in a specific age, wealth or skill group. The most important aspect of an unemployment insurance system turns out to be the benefits paid to the long-term unemployed. If this parameter is chosen too high, a large number of households may get caught in a long spell of unemployment with little chance of finding work again. Based on the predictions in these models, the so-called "Hartz IV" labor market reform recently adopted in Germany should have highly favorable effects on the unemployment rates and welfare in the long run.
Download or read book Extending Unemployment Insurance written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Income Security and Family Support and published by . This book was released on 2009 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Emergency Extension of Federal Unemployment Compensation Benefits written by United States. Congress. House. Ways and Means and published by . This book was released on 1958 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Unemployment Insurance Reform written by David E. Balducchi and published by W.E. Upjohn Institute. This book was released on 2018-09-11 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Unemployment Insurance (UI) system is a lasting piece of the Social Security Act which was enacted in 1935. But like most things that are over 80 years old, it occasionally needs maintenance to keep it operating smoothly while keeping up with the changing demands placed upon it. However, the UI system has been ignored by policymakers for decades and, say the authors, it is broken, out of date, and badly in need of repair. Stephen A. Wandner pulls together a group of UI researchers, each with decades of experience, who describe the weaknesses in the current system and propose policy reforms that they say would modernize the system and prepare us for the next recession.
Download or read book The Economic Impact of Extending Unemployment Insurance Coverage to Farm Workers in Maryland written by Roger C. Covey and published by . This book was released on 1972 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Extended Temporary Unemployment Compensation Benefits written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1962 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Family Incomes of Unemployment Insurance Recipients and the Implications for Extending Benefits written by and published by . This book was released on 1990 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Do Extended Unemployment Benefits Lengthen Unemployment Spells written by Henry S. Farber and published by . This book was released on 2013 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to the Great Recession, the availability of unemployment insurance (UI) benefits was extended to an unprecedented 99 weeks in many U.S. states in the 2009-2012 period. We use matched monthly data from the CPS to exploit variation in the timing and size of the UI benefit extensions across states to estimate the overall impact of these extensions on individual exit from unemployment, and we compare the estimated impact with that for the prior extension of benefits during the much milder downturn in the early 2000s. In both periods, we find a small but statistically significant reduction in the unemployment exit rate and a small increase in the expected duration of unemployment. The effects on exits and duration are primarily due to a reduction in exits from the labor force rather than to a decrease in exits to employment (the job finding rate). Although the overall effect of UI extensions on exit from unemployment is small, it implies a substantial effect of extended benefits on the steady-state share of unemployment in the cross-section that is long-term.
Download or read book The Duration of Unemployment Benefits written by Merrill G. Murray and published by . This book was released on 1974 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: Report on the problem of the time factor in unemployment benefit for the long term unemployed in the USA - cites the regular duration for benefits as provided by state laws, discusses the provision of extended benefits during economic recessions, the problem of financing such benefits, etc., and considers proposals for extended benefits at all times. References and statistical tables.
Download or read book The Economic Impact of Extending Unemployment Insurance to Agriculture in Maryland written by Roger C. Covey and published by College Park : Agricultural Experiment Station, University of Maryland. This book was released on 1972 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bolstering the Economy written by United States. Congress. Joint Economic Committee and published by . This book was released on 2012 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Phase I Existing Unemployment Compensation Programs Phase II Extending Temporary Benefits written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Unemployment Compensation and published by . This book was released on 1975 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Unemployment Insurance written by W. Lee Hansen and published by Univ of Wisconsin Press. This book was released on 1989-12-31 with total page 506 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modeled after Wisconsin's own unemployment compensation plan in the 1930s, federal unemployment insurance has long been considered one of the most important public policy achievements of the New Deal. Always paying benefits according to legislative and administrative guidelines and never requiring a taxpayer bailout, the program has nonetheless undergone strains induced by structural changes in both the economy and the prevailing political milieu. An outgrowth of a conference to celebrate the program's fiftieth anniversary, the papers collected in this volume describe the history of the program, analyze the strains it has undergone and that it faces in the 1990s, delineate the source of current debates over unemployment compensation, and offer suggestions for the future of the program.
