Thursday, September 4, 2008

Emergency Unemployment Compensation - 8/16

The Department of Labor incorrectly states:

States reported 1,394,749 persons claiming EUC (Emergency Unemployment compensation) benefits for the week ending Aug. 16, a decrease of 384,050 from the prior week.
In looking at the data, they meant increase... hey semantics (does anyone read this stuff besides me / how long until they fix it??)

So, what is this EUC?

This new temporary unemployment insurance program provides up to 13 additional weeks of unemployment benefits to certain workers who have exhausted their rights to regular unemployment compensation UC) benefits. The program effectively begins July 6, 2008, and will terminate on March 28, 2009. No EUC benefit will be paid beyond the week ending July 4, 2009.