A quick update about the recent Federal unemployment extension legislation that just passed:

Key points:

“The unemployment rate fell to 8.6% … This is the lowest rate in two years.”

If you take look at the unemployment statistics reported by Washington, you might think that the economy is turning around.

We decided to dig into these figures and see what they are really saying.

Last week, President Obama signed into law the Vow to Hire Heroes Act. This new law covers one of the many proposals put forth in the American Jobs Act.

Back in September, the President introduced the American Jobs Act, [...]]]>

American Jobs Act Update – December 2, 2011

Last week, President Obama signed into law the Vow to Hire Heroes Act. This new law covers one of the many proposals put forth in the American Jobs Act.

American Jobs Act – background

Back in September, the President introduced the American Jobs Act, which had four primary areas of job creation:

• Construction: Projects to improve basic infrastructure, roads, and schools will help employ thousands of workers in construction related fields.
• Teachers: Aid to state and local governments will help keep teachers employed by using funds to prevent layoffs.
• Veterans: Businesses will be given tax credits for hiring returning veterans.
• Long-Term Unemployed: Employers will receive a $4,000 tax credit for hiring long-term unemployed workers. Note: They are defining “long-term” as six months or more.

In addition, the American Jobs Act would allow for an extension of unemployment benefits through the end of 2012.

Over the last couple of months, the American Jobs Act has not received enough support on its own in order to be passed into law. Recently, specific components of the legislation, e.g. support for veterans, have been brought forth on an individual basis.

Vow to Hire Heroes Act

The legislislation enacted yesterday addressed the aspect of the American Jobs Act that addresses the 850,000 American veterans who are out of work. Specifically, it provides an incentive for businesses to hire veterans: A $2,400 tax credit for hiring veterans who have been out of work for four months, and a $5,600 tax credit for hiring veterans who have been out of work for six months or longer.

Of note, this bill received a unanimous vote of 422 to 0 in the House of Representatives.

While veterans represent fewer that 10% of Americans who are out of work, the passage of this bill may encourage Congress to consider further aspects of the American Jobs Act.

There are two separate unemployment extensions being discussed in Congress at the moment:

While they have similar names, the two pieces of legislation are [...]]]>

Unemployment Extension Update – November 14, 2011

There are two separate unemployment extensions being discussed in Congress at the moment:

• HR 3346 – The Emergency Unemployment Compensation Extension Act of 2011
• HR 589 – The Emergency Unemployment Compensation Expansion Act of 2011

While they have similar names, the two pieces of legislation are quite different. We highlight the details, and how they might impact you, below.

HR 3346 – The Emergency Unemployment Compensation Extension Act of 2011

Federal unemployment benefits — the unemplyoment benefits you receive after the 26 weeks of Regular Benefits are exhausted — are set to expire on December 31, 2011. If this happens, as many as 2 million unemployed Americans will lose benefits in January 2012.

Last week, legislation was introduced that would extend these benefits through the end of 2012. As a reminder, these federally-funded unemployment benefits provide anywhere from 34 to 73 weeks of additional unemployment insurance after state-funded regular benefits run out.

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The Emergency Unemployment Compensation Extension Act has support in Congress, and will definitely receive more attention in the coming weeks. If history is a guide, given the extensions that passed in the last two years, it seems likely that this bill will pass, even if it happens after the December 31st deadline.

HR 589 – The Emergency Unemployment Compensation Expansion Act of 2011

As mentioned, the Federal unemployment benefits provide extensions resulting in a total of up to 99 weeks of unemployment insurance. That said, millions of American workers have exhausted the total number of available weeks.

The Emergency Unemployment Compensation Expansion Act, sponsored by Representative Barbara Lee, would
add an additional 14 weeks of benefits for those who have already received the maximum number of weeks of Federal unemployment benefits.

Also referred to as “Tier 5″, this expansion of benefits has been discussed over the last several months, but has yet to gain the necessary support in Congress. The most recent efforts made by Representative Barbara Lee and her co-sponsors have attempted to incorporate this legislation into the President’s jobs bill.

We will continue to keep you updated on both pieces of legislation, as well as The American Jobs Act.

Again, $447 billion. This is the amount of stimulus proposed as part of the American Jobs Act. To put it in perspective, this is equivalent to approximately $31,000 for every American who is out of work. Hopefully this will have a positive [...]]]> The American Jobs Act — $447 Billion

Four hundred forty-seven billion dollars.

Again, $447 billion. This is the amount of stimulus proposed as part of the American Jobs Act. To put it in perspective, this is equivalent to approximately $31,000 for every American who is out of work. Hopefully this will have a positive impact on the jobs environment and the economy.

What’s The Latest?

In his most recent radio address, President Obama encouraged Congress to “schedule a bote before the end of this month”. (“This month” being October 2011). Sounds good, right?

Well, as we have witnessed with almost every other piece of legislation brought before Congress recently, there are disagreements. These differing viewpoints will serve to delay a vote.

Essentially, Republicans are opposed to using tax increases to pay for the proposals, while Democrats are opposed to reductions in business regulations that Republicans would like to add to the bill.

The likely outcome is that certain provisions of the act will be voted upon, and passed, while aspects will continue to be debated in Congress during coming months.

How Will The American Jobs Act Create Jobs?

The proposals in the American Jobs Act will help job creation by providing incentives to employers. These incentives include the following:

• Cutting payroll taxes for small businesses
• Eliminating payroll taxes associated with hiring new workers
• Expanding loans from the Small Business Administration

In addition, there are additional elements that encourage businesses to hire, such as the $4,000 tax credit for hiring a worker who has been out of work for six months or more, and even larger credits for hiring veterans.

Other Legislation

Also in the works is legislation concerning Free Trade Agreements. In conjunction with these bills, some lawmakers are requiring provisions that would require additional assistance for Americans who lose their jobs because of outsourcing. A proponent of this idea is Debbie Stabenow of Michigan, who has also been in support of a Tier 5 for 99ers.

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Following his speech on the American Jobs Act earlier this month, President Obama has been visiting cities across the country in order to gain support for the proposed stimulus plan.

While you are likely already aware of the highlights of the plan, there are additional [...]]]>

The American Jobs Act — Details (Part 1)

Following his speech on the American Jobs Act earlier this month, President Obama has been visiting cities across the country in order to gain support for the proposed stimulus plan.

While you are likely already aware of the highlights of the plan, there are additional provisions that have not received much attention. These provisions are important to all Americans who are currently looking for work.

Prohibits Discrimination Against Unemployed Workers

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Thousands of out of work Americans have encountered job postings that only accept applications from workers who are “currently employed”.

One of the little talked about aspects of the American Jobs Acts is a provision that would prohibit this type of discrimination based on your employment status.

As proposed, the American Jobs Act would incorporate The Fair Employment Opportunity Act of 2011, which would prevent companies and employment agencies from discriminating against applicants on the basis of employment status.

Mortgage Refinancing

While interest rates on mortgages have fallen to approximately 4%, millions of Americans are unable to refinance their mortgages at these low rates. Banks and lenders have become much more strict as a result of the financial crisis, making it challenging to refinance an existing mortgage.

The American Jobs Act includes language that would help facilitate mortgage refinancing. The government estimates that a typical American family would be able to save approximately $2,000 per year on mortgage costs if they were able to refinance at the current rates.

What does this plan entail, when will it be implemented, and, most importantly, how does it impact you?

The primary focus of the American Jobs [...]]]> The American Jobs Act and You

Last night, September 8th, 2011, President Obama addressed Congress and the nation, unveiling his new stimulus plan: The American Jobs Act.

What does this plan entail, when will it be implemented, and, most importantly, how does it impact you?

New Jobs

The primary focus of the American Jobs Acts is new jobs. Specifically, the President highlighted four areas where the program will stimulate job creation:

• Construction: Projects to improve basic infrastructure, roads, and schools will help employ thousands of workers in construction related fields.
• Teachers: Aid to state and local governments will help keep teachers employed by using funds to prevent layoffs.
• Veterans: Businesses will be given tax credits for hiring returning veterans.
• Long-Term Unemployed: Employers will receive a $4,000 tax credit for hiring long-term unemployed workers. Note: They are defining “long-term” as six months or more.

Extension of Unemployment Benefits

Another important aspect of the American Jobs Act is an extension of unemployment benefits until the end of 2012. This extension continues the benefits put in place last year (up to 99 weeks of total benefits, depending on your state). These extensions were set to expire at the end of 2011.

At the present time, additional weeks beyond the 99 week total have not yet been discussed as part of this program.

What’s Next?

In order for the changes proposed in the American Jobs Act to take effect, Congress must pass the legislation. President Obama expects there to be support for the program from both Democrats and Republicans. That said, it is fair to assume there will be some debate on various aspects of the proposals leading up to the voting, which is expected to take place this month.

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Below are [...]]]> Unemployment Update – August 26, 2011: The Debate Over Unemployment Extensions Continues

While major events such as Libya, earthquakes, hurricanes, and the stock market are dominating the news, the discussion of unemployment benefits has received less coverage recently. Nevertheless, unemployment continues to impact the lives of millions of Americans, and deserves attention.

Below are a few important updates regarding unemployement benefits.

Unemployment Compensation for Striking Workers

Workers who walk of the job are typically not eligible for unemployment benefits. Some states have made exceptions to this, however. As such, the new claims for unemployment benefits recently went up, as thousands of striking Verizon workers filed for unemployment benefits.

Congress Continues the Debate Over Unemployment Extensions

The debate in Congress over unemployment benefits retains the theme that has persisted over the last couple of years:

• Democrats want to maintain unemployment extensions, or add additional extensions.
• Republicans want to reduce extensions, or at least find a way to fund the extensions without adding to the national debt.

This debate will likely persist until new legislation is agreed upon.

Tier 5 Benefits?

Millions of “99ers” have exhausted their 99 weeks of unemployment insurance (note: in some states fewer weeks were available). Representatives Barbara Lee and Bobby Scott continue to fight for their proposed Tier 5 bill, H.R. 589 – The Emergency Unemployment Extension Act – which would add up to 14 weeks of additional benefits. They argue that unemployment benefits act as a stimulus to the economy, as Americans who receive benefits generally spend this money, therefore putting it back into the economy.

A New Jobs Program?

President Obama is expected to annouce a new jobs program after Labor Day. The details of this program are unknown, but analysts have suggested that it may entail infrastructure projects or job re-training.

What’s Next?

Congress is out for “recess” through the end of this month, with many politicians on vacation. They return to work in September, at which point debates will resume, and more details should emerge regarding new legislation and programs.

We will continue to keep you updated on these and other unemployment-related items, as information becomes available.

The six contributors, a diverse pool from across the country and socioeconomic spectrum, are writing frequent entries about their experiences throughout [...]]]> In an effort to show the true impact of joblessness, The Washington Post asked six unemployment-affected families (five unemployed people and one fiance of an unemployed man) to participate in a unique project.

The six contributors, a diverse pool from across the country and socioeconomic spectrum, are writing frequent entries about their experiences throughout the summer of 2011. Among the topics covered, the participants are writing about their struggles to pay the bills, preserve relationships and maintain hope for the future.

The “Help Wanted: Stories of Unemployment” project also features audio testimonials from other unemployed Americans and other features.

Also, you can find an expanded description of the Help Wanted project here.

Earlier this month, Representatives Rosa DeLauro (Connecticut) and Henry Johnson, Jr. (Georgia) introduced the Fair Emplyoment Opportunity Act of 2011. The aim of this legislation is simple: To prevent employers from discriminating against unemployed Americans.

Companies looking to hire are [...]]]>

New Bill Seeks To Prevent Discrimination Against Unemployed Americans

Earlier this month, Representatives Rosa DeLauro (Connecticut) and Henry Johnson, Jr. (Georgia) introduced the Fair Emplyoment Opportunity Act of 2011. The aim of this legislation is simple: To prevent employers from discriminating against unemployed Americans.

Unemployed Need Not Apply?

Companies looking to hire are increasingly including language in their “Help Wanted” postings that prevents applicants who are out of work from applying for a job opening. You may have encountered the following language:

“Applicant must be currently employed.”

The Fair Employment Opportunity Act of 2011, also referred to as HR 2501, would prevent employers from such discrimination. The bill would also apply to employment agencies, who would not be allowed to ask about the current employment status of job applicants.

“In a tough job market, where workers are competing against tens and sometimes hundreds of others for every available job opening, it is unjust for employers to discriminate against those who are unemployed. We have seen ample evidence that unemployed individuals are increasingly falling prey to discriminatory practices reducing their opportunities to be considered for a job. The Fair Employment Opportunity Act of 2011 would prohibit employers and employment agencies from discriminating against unemployed job-seekers, and ensure that all Americans have the same opportunities for employment.” — Representative Rosa DeLauro

What’s Next?

The bill was referred to the House Committee on Education and the Workforce on July 12th, and there are currently 30 co-sponsors of this new legislation.

We will keep you updated as progress is made on this bill, as well as Tier 5, and other unemployment-related items being discussed in Congress.

Your Experience?

Have you encountered discrimination as a result of being unemployed? Please feel free to share your experience below.