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Unemployment insurance is funded by both federal and state payroll taxes. In most states, employers pay state and federal unemployment taxes if: (1) they paid wages to employees totaling $1,500 or more in any quarter of a calendar year, or (2) they had at least one employee during any day of a week for 20 or more weeks in a calendar year, regardless of whether those weeks were consecutive.
The Maryland Department of Labor, Licensing, and Regulation's Division of Unemployment released data on March 26 showing that unemployment insurance claims increased significantly following the closure of all seated restaurants and bars in the state. The number of new claims increased 984% from 3,852 during the week ending March 14 to 42,334 ...
Maryland’s job market has reached a historic milestone. The mid-Atlantic state registered a record unemployment rate of 1.6% in September — less than half the national unemployment rate of 3.8 ...
The Coronavirus Aid, Relief, and Economic Security Act, [b] [1] also known as the CARES Act, [2] is a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in response to the economic fallout of the COVID-19 pandemic in the United States.
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An estimated 7.5 million people will be affected.
The act (Statutes 1935, chapter 352) was set up to provide "a (monetary) reserve to assist in protecting the public against the social effects of unemployment." The purpose of the department was to operate a statewide system of employment agencies and distribute the payment of unemployment insurance to eligible unemployed workers. [citation needed]
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