Archive for the ‘News/reports’ Category
It’s official. The President has signed the stimulus plan into law. So at $787 billion, what’s in it for me — the unemployed?
We weren’t left out:
Unemployment benefits get a tax break: Yes, unemployment benefits are taxable, which is why you have the option to have federal tax withheld. However, the package excludes the first $2,400 in unemployment benefits from taxes in 2009.
Help on health insurance: If you lost your job and elected to take COBRA — which lets laid-off workers continue with their former employer’s coverage for up to 18 months — the government will subsidize 65% of COBRA premiums for up to nine months. The subsidy is limited to workers who were laid off from Sept. 1, 2008, to Dec. 31, 2009.
Now — if only the President could find me a full-time job ….
More on the rescue plan:
Get ready to settle in the for the long haul. Not only is the unemployment rate rising (7.6% in January), but the average time to find a job is increasing, too. The Labor Department said it took an unemployed person 19.8 weeks in January to find a job — full or part time — vs. 17.5 weeks a year ago. That’s almost 5 months. Check out the stats and read the government release by CLICKING HERE.
Read more about jobless report:
Just what I didn’t want to read — a preview of Friday’s jobless report. Anyone out looking for a job right now knows it’s tough. And it sounds like it’s about to get worse. Here’s what Dow Jones had to say about the upcoming report:
“Added to the underlying anxiety is the slew of economic data due this week, culminating in Friday’s jobs report. Economists on average anticipate a loss of 550,000 jobs and an unemployment rate of 7.4%.
“That is one ugly report holding out until Friday,” said Marc Pado, U.S. market strategist at Cantor Fitzgerald. “
To read the rest of their wrapup — which includes info on the latest layoffs –– CLICK HERE.