th.
In practical terms, this means that the $300 weekly increase in aid provided by the federal government will end by July. In other states, the benefits are available through Labor Day, a stipulation included in Biden’s $2 trillion “American Rescue Plan” passed last March.
Gianforte has claimed that the benefits have de-incentivized work amidst an acute labor shortage in Montana. Instead, he has substituted the remaining two months of aid for a one-time $1200 bonus rewarding Montanans who return to work – a proposal previously touted over unemployment insurance by the Trump administration.
Montana’s current unemployment benefits scheme has been in place since March 2020, when the Trump administration expanded the safety net to include gig workers, freelancers, and self-employed workers – all of whom struggled to gain unemployment benefits under previous legislation.
Fri, 05/07/2021 - 12:38pm tim
by Timothy McQuiston, Vermont Business Magazine Regular weekly unemployment claims continue to grow to their highest levels this year and remain at a very high level, as claimants were required to refile based on their annual eligibility. The Vermont Department of Labor has also reverted to call-in only for new claims, as the online system has been barraged by large numbers of fraudulent filings.
In addition, Commissioner Michael Harrington is urging the Legislature to change the law regarding how employers are charged to meet UI Trust Fund obligations (see his letter below).
The Vermont UI Trust Fund was well-stocked with over $500 million before the pandemic and is still flush with over $200 million. Despite the Stay Home order from a year ago and layoffs at their highest levels since the Great Depression because of the pandemic, current law would require a steep increase in employer charges because of those pandemic-related layoffs. At current l
Federal Reserve Chairman Jerome Powell has called the risks emanating from “frothy” stock prices and other potential financial imbalances “manageable.” Some current and former central bankers are not so sure.
They worry that the Fed’s rock-bottom interest rates and massive bond buying might lead to asset price bubbles, and excessive risk-taking and leverage that could come back to haunt the economy.
“We’re now at a point where I’m observing excesses and imbalances in financial markets,” Dallas Federal Reserve Bank President Robert Kaplan said on April 30. “I’m very attentive to that, and that’s why I do think at the earliest opportunity I think it will be appropriate for us to start talking about adjusting those purchases.”
BEIJING (AP) â Major Asian stock markets advanced Wednesday after Wall Street fell, while Chinese and Japanese markets were closed for holidays.
Overnight, Wall Street s benchmark S&P 500 index lost 0.7%, dragged down by more declines for tech stocks including Apple and Microsoft.
The Hang Seng in Hong Kong was little changed at 28,561.70 while the S&P-ASX 200 in Sydney added 0.4% to 48,453.94.
New Zealand s benchmark lost 1.1%, Singapore was down 0.8% and Bangkok fell 0.7%.
âWith relatively light news flow and macro data, price action in the region was subdued in holiday-thinned conditions,â Anderson Alves of ActivTrades said in a report.
Investors are watching corporate earnings and looking ahead to Friday s U.S. jobs data.
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ASIA:
China urged the Philippines on Tuesday to observe “basic etiquette,” and eschew megaphone diplomacy after the southeast Asian nation’s foreign minister used an expletive-laced Twitter message to demand that China’s vessels leave disputed waters. In a statement, China’s foreign ministry urged the Philippines to respect the nation’s sovereignty and jurisdiction and stop taking actions that complicate the situation. The Chinese ministry cited Philippine President Rodrigo Duterte that differences between the countries on individual issues should not affect friendship and cooperation.
India and UK announced 1 billion pounds ($1.39 billion) of private-sector investment and committed to seek a free trade deal. Prime Minister Modi and Prime Minister Boris held a virtual meeting to discuss the bilateral talks of two nations. The British government set out 533 million pounds of Indian investment into Britain, including 240 million by the Serum Institute for