New research from The Century Foundation released today finds that the recovery of Unemployment Insurance Trust Funds nationwide presents an opportunity to rebalance the approach taken during the Great Recession and its aftermath.
The approach taken in several states, including North Carolina, included significant changes that reduce the weekly unemployment insurance amount, the duration of weeks and limited eligibility across a range of other measures.
Given the opportunity of the ongoing economic expansion, states are able now to ensure that the Unemployment Insurance system is well-positioned to serve its role in stabilizing the economy during a downturn. Doing so will require ensuring that the weekly benefit amounts achieve an adequate level of wage replacement, that the weeks available ensure workers can find new jobs or be retrained (as is increasingly necessary) for new careers, for example.
Here are the core findings from the report: Read more