Unemployment payments are intended to provide temporary financial relief, whereby eligible recipients are able to sustain until their situation improves. It is important to note that each state has a separate unemployment insurance program that must be within guidelines established by the federal law.
Typically, a person is eligible if they have worked during a certain time frame known as a base, which is usually the first 4 of the last 5 completed calendar quarters prior to the time that he or she files a claim (U.S. Dept of Labor 2004). Essentially, a person must have worked at least a year before eligible for benefits. Once eligibility is determined, here she may file a claim with the state unemployment agency as soon as becoming unemployed. Filing may be done either by Internet or by phone depending on state requirements. A response typically is received to 3 weeks after claim has been filed. Once approved, the recipient receives the certain percentage dollar amount based on reported earnings over a recent 52-week period. Benefits are usually paid for maximum of 26 weeks in most states (U.S. Dept of Labor 2004). With the Obama administration, unemployment benefits may be extended for additional 20 weeks provided the individual meets certain criteria. Regardless of the amount received, all benefits are subject to federal income tax and therefore must be noted on ones federal income tax return.
An individual receiving benefits must be actively looking for employment. Many are required to register with state employment services in finding employment. If for some reason they are not required to register, they must find employment on their own and show diligent effort extended in finding employment, such as so many resumes being submitted, a set number of applications...
Macroeconomics Government borrowing is too high and interest rates are too low in many countries; fiscal stimulus does not work and cheap money leads only to inflation. Explain and discuss the various caveats of this macroeconomic problem and what policy measures will you suggest and Why if you are hired as a Junior Policy Advisor in an Advisory Board of Economists in one such country including Canada? Use economic theory, policy,
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