Thursday, April 29, 2010

A New Bill Extends Unemployment Compensation

Losing your job is a very stressful time. For many, filing for unemployment and cutting costs are the first things on their to-do list. However, people who have filed for unemployment have found unemployment benefits are running out. People are left once again feeling hopeless and concerned with what they are going to do for money.
On April 16, 2010 President Barack Obama signed an $18 billion jobless benefits bill that gives a 60 day extension of federal extended unemployment benefits. So, for those people who have been out of work for months and have been denied additional weeks of unemployment, they can now reapply for long-term benefits that will run until June 2, 2010.

Here are some facts about unemployment:

Unemployment insurance is defined as compensation provided to workers who are unemployed through no fault of their own. Unemployment provides compensation for a specific period or until the worker finds a new job.

So how long is a typical person covered? Regular unemployment provides benefits for up to 26 weeks, based on the weeks you have worked in your claim year. However, during times of high unemployment, other options for those who have exhausted their regular state unemployment benefits are available.

People who find themselves in these types of situations can file for Extended Unemployment Benefits, which will provide compensation for a longer period. In addition, some may be eligible for benefits funded by the federal government, including Emergency Unemployment Compensation or EUC.

Eligibility for extended benefits depend on the where the claimant lives and the date s/he became unemployed. Extended benefit programs provide an additional 13 to 20 weeks of benefits to workers who are already receiving unemployment benefits and are in a state with a high unemployment rate.

Emergency Unemployment Compensation Tiers:

• Tier 1- 20 weeks
• Tier 2- 14 weeks
• Tier 3- 13 additional weeks of benefits in states where the total unemployment rate is 6% or higher
• Tier 4 6 additional weeks of benefits in states where the total unemployment rate is 8.5% or higher.

*Eligibility depends on your tier benefits plus state guidelines.

Visit your State Unemployment Office: For details on who qualifies and when/how benefits will be paid.

Check out this how to video for help on filing for unemployment Compensation:

Have you been affected by the new bill that President Obama has passed? Are you unemployed and unable to receive benefits for whatever reason? Leave your comments for others to read and learn from.

Carly Sabato

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