What's new with unemployment benefits if you file?

By The Exchange Team

The labour market is doing well, and unemployment is at a historically low level.

50% of companies intend to reduce personnel in the next six to 12 months, according to a PwC survey.

Workers who rely on jobless benefits during the Covid-19 outbreak will encounter a changed system.

Unemployment Insurance is a federal-state program. The weekly benefit amount varies from state to state.

1. Benefit amounts are reduced.

States also cap benefits term. Generally, beneficiaries can get unemployment insurance for 26 weeks with some Exception.

2. Shorter benefits term.

Before the pandemic, only wage-and-salary workers qualified for unemployment.

3. Reduced benefit eligibility.

Congress extended benefits to other group of workers but those groups generally don’t qualify for benefits under current law.