Agreement Reached on Unemployment

Agreement Reached on Unemployment: What It Means for American Workers

After months of negotiations, Congress has finally reached an agreement on unemployment benefits for millions of Americans impacted by the COVID-19 pandemic. The relief package includes extensions of several critical unemployment programs and initiatives, which will help provide much-needed financial support to those who have lost their jobs or experienced reduced hours due to the pandemic.

Here`s what you need to know about the agreement reached on unemployment:

1. Extension of Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC)

The relief package extends the PUA and PEUC programs through to March 14, 2021. PUA provides unemployment benefits to gig workers, freelancers, and self-employed individuals who are not eligible for traditional state unemployment programs. PEUC provides additional weeks of unemployment benefits to those who have exhausted their regular state unemployment benefits.

2. Additional $300 per week in unemployment benefits

The agreement provides an additional $300 per week in federal unemployment benefits for up to 11 weeks. This will be provided on top of the state unemployment benefits that individuals receive.

3. Extension of Federal Pandemic Unemployment Compensation (FPUC)

FPUC, which provides an additional $600 per week in federal unemployment benefits, expired in July 2020. The agreement does not include a renewal of FPUC, but the additional $300 per week in unemployment benefits will still help provide financial support to millions of Americans.

4. Eligibility for unemployment benefits for mixed-income workers

Many states currently do not allow individuals with mixed incomes (those who earn both traditional W-2 wages and self-employment income) to receive unemployment benefits. The relief package clarifies that mixed-income workers are eligible for PUA benefits.

5. Funding for state unemployment agencies

The agreement provides $25 billion in funding to state unemployment agencies, which have been overwhelmed by the surge in unemployment claims due to the pandemic. This funding will help these agencies process claims more quickly and efficiently.

Overall, the agreement reached on unemployment provides much-needed relief to millions of American workers impacted by the COVID-19 pandemic. If you have lost your job or experienced reduced hours due to the pandemic, be sure to check with your state`s unemployment agency to see if you are eligible for these benefits.