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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.
Effective July 1, 2011, the rate decreased to 6.0%. That rate may be reduced by an amount up to 5.4% through credits for contributions to state unemployment programs under sections 3302(a) and 3302(b), resulting in a minimum effective rate on and after July 1, 2011 of 0.6% (6.0–5.4%). [2] [3]
Wages adjusted for inflation in the US from 1964 to 2004 Unemployment compared to wages. Wage data (e.g. median wages) for different occupations in the US can be found from the US Department of Labor Bureau of Labor Statistics, [5] broken down into subgroups (e.g. marketing managers, financial managers, etc.) [6] by state, [7] metropolitan areas, [8] and gender.
Employers contribute 1.4 times the amount of employee premiums. Since 1990, there is no government contribution to this fund. The amount a person receives and how long they can stay on EI varies with their previous salary, how long they were working, and the unemployment rate in their area.
According to new data, the push by states to fill vacant jobs by ending unemployment benefits was not fruitful. Using recent data from the Household Pulse Survey collected by the U.S. Census ...
The federal government’s debt has exploded: approaching nearly 100 percent of GDP. The Department of Government Efficiency (DOGE), an independent commission set to begin in President-elect Trump ...
Unemployment rates historically are lower for those groups with higher levels of education. For example, in May 2016 the unemployment rate for workers over 25 years of age was 2.5% for college graduates, 5.1% for those with a high school diploma, and 7.1% for those without a high school diploma.
On January 19, the U.S. government reached its debt ceiling limit of $31.4 trillion, provoking U.S. Treasury Secretary Janet Yellen to tell Congress "extraordinary measures" would start to roll ...