In order to define what unemployment insurance extension bill is we must firstly give definition to the term unemployment benefits. This term means that if a person loses a job, the state will cover up some expenses by making payments for the time spent working in a company. Those payments are small and covering only some of the expenses. Unemployment insurance usually comes in those payments. In some countries unemployment benefits are regulated to an arrangement with the worker’s union and it is called Ghent agreement.
What is unemployment insurance extension bill?
It is a temporary source of payments for unemployed people. But not everyone has the right to take unemployment insurance extension bill. Set of eligibility guidelines must be followed in order the individual to fulfill the eligibility criteria. Every state in the USA has different eligibility criteria about this compensation. It must be mentioned that every state in the world has similar services for unemployed people and it offers some stability until they find a new job. For example in Macedonia every person who has established regular working contract with the employer is eligible for unemployment insurance extension bill. If the contract is terminated by the employer, the employee is eligible for financial aid of 50% of the national level salary defined for the month in which the employee filed for unemployment insurance extension bill. For example: The employee worked in the company for ten years and lost the job in July, 2011. The national level salary in June 2011 was 500$. So, by doing a simple math, the worker is eligible for unemployment insurance for ten moths and he is going to receive a sum of 250$ for those ten months. In order to see if an unemployed individual is eligible for unemployment insurance extension bill in the USA; all the eligibility criteria are listed on the states Department of labor website. A sample link of NY State’s Department of labor is provided here.
Unemployment insurance extension bill in other countries
We will take a look in Australia’s unemployment insurance extension bill and their unemployment insurance politics. In this country all the unemployment insurance benefits are funded by the income tax system. It must be noted that Australia does not have compulsory unemployment insurance fund. Two types of payment are available to unemployed people. The first is called Youth allowance, where young people from 16 to 20 years old. This type of payment is also paid to young students and Australian apprenticeship workers who are aged between 16-24.Those who haven’t completed high school and are below 18 years of age, are required to be in fulltime education in order to be eligible for Youth allowance. The payment varies. Single people below 18 years of age and are living with their parents receive a payment of about A$ 91.6 weekly.
Young people aged between 18-20 receive payments of A$110.15 weekly if they live at home, and if they don’t live at home they receive paycheck at A$ 167,35 every week. The second kind of payment available to the citizens of Australia is named Newstart allowance. This payment is available to every unemployed people older than 21 years but under the pension eligibility age. If the eligibility criteria about unemployment are met, the recipients enter the Employment pathway plan. The rate of this payment for single people without children is A$ 228 weekly. All unemployment insurance extension bill possibilities and eligibility criteria are public and can be found at Centrelink.
Unemployment insurance extension bill and its impact on population
It is often suggested by workers that these kind of acts by the government act as insurance that the government is taking care of the worker. The worker feels protected. Unemployment insurance extension bill must be properly given to people who really need it. We hope that you got all of the needed information on unemployment insurance extension bill in this article!