“They just can’t afford it.”. In June, job gains were recorded in eight out of nine major private industry sectors. Unemployment rates in five Philadelphia-area counties were lower in March 2020 than in March 2018. The avalanche of new claims quickly raised questions about how long the state’s Unemployment Trust Fund, built up to $2.79 billion by years of employment growth, could sustain that level of benefit payouts. Employees all pay the same tax rate on their first $35,300 in wages.
“It actually dwarfs every other kind of tax increase that they have in there,” said Oroho, R-Sussex, who served on a bipartisan trust fund tax force under Gov. Still, thousands have been waiting since March due to an aging system plagued by technological issues. The BLS continues to acknowledge the difficulty in classification of responses from the household survey, which may have resulted in understating the level of the unemployed and overstating the employed in prior months. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. Imagine how much lower the already amazingly low national unemployment rate might be if these Democrat-controlled states (which make up just a bit less than one-third of the US population) weren’t deliberately holding back and choking their economies.
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The answer came this summer, when the Department of Labor revealed it would draw on a federal line of credit to help pay claims. The national unemployment rate fell by 0.9 percentage point over the month to 10.2 percent but was 6.5 points higher than in July 2019. "We Got One Down! HOBOKEN COMPLETES INSTALLATION OF 15 BLOCKS OF NEW WATER MAINS AS PART OF MAJOR WATER INFRASTRUCTURE UPGRADES The City of Hoboken yesterday installed the final water main service line to complete the installation of 15 blocks of brand new water mains. With widespread job losses and sky-high claims, employers likely are going to be required to kick in more cash once the state is required to conduct an assessment of the trust fund in March, Department of Labor Commissioner Robert Asaro-Angelo told the Senate Budget and Appropriations Committee on Tuesday. Phil Murphy has said the state can’t afford to fund the expanded benefit, as it seeks to borrow $1.7 billion from the federal government to replenish the unemployment trust fund to pay out benefits through October. All of these cities are governed by Democrats!
Despite the payroll gain, the state’s unemployment rate rose by 1.2 percentage points to 16.6 percent.
Finally, WalletHub considered each state’s overall unemployment rate. © 2020 Advance Local Media LLC. You can contact him at dmunoz@njbiz.com.
Please consider supporting NJ.com with a subscription. TRENTON – New Jersey employers recalled workers in June as the partial reopening of the state’s economy from COVID-19 related closures continued. Note to readers: if you purchase something through one of our affiliate links we may earn a commission. In August 2020, the national unemployment rate was at 8.4 percent. Having trouble with login?
}, FBI Agent Who Uncovered Weiner Laptop with Hillary's Emails says FBI Leadership Told Him to Erase All of His Findings, BREAKING: Burisma Investigation to be Released within 24 Hours -- FINDS BIDEN FAMILY GUILTY OF LIKELY CRIMINAL ACTIONS (VIDEO). Previously, the CES program developed seasonal factors once a year during the annual benchmark process. A WalletHub study released on Friday reveals that New Jersey’s economic recovery from the coronavirus pandemic lags behind the majority of the nation. Cecil County, MD, and Salem County, NJ, had the largest two-year jobless rate decreases at 0.9 percentage point each, followed by Camden County, NJ, at 0.8 point.
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