Tuesday, July 28, 2020

Unemployment reform

The extra $600 per week added to the state unemployment compensation is due to expire at the end of this month. This extra benefit means that 70% of the beneficiaries are earning more by not working. For example if you were earning $15 dollars per hour or $600 per week your state unemployment would be $300 but you get an additional $600 from the Feds so your total gross income increases from $600 to $900. If they are going to renew this some suggest that it should be changed so that you cannot earn more by not working. In the above example that means the federal benefit would be $300 which would replace the persons lost earnings. That seems reasonable.

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