The state of the current labor market is dependent on a number of unique factors, from the amount of people looking for new jobs to the economy and actions taken by the U.S. and state governments. As conditions shift, employers may soon start to see their personal situations change as well.

For example, a higher number of people searching for work can lead to an increase in skilled labor, a lower turnover rate and declining unemployment insurance taxes. In addition, new legislation could provide financial relief for companies and the jobless alike. Recently, few actions in Washington, D.C. have been scrutinized as much as the bill aimed at extending benefits to the long-term unemployed.

Discussions remain focused on extension
In Congress, conversations continue about how to address the issue of long-term unemployment in the U.S. At the end of 2013, the existing legislation expired, and many people who had been receiving benefits had their lifelines removed. Since that time, several attempts have tried to change that situation, but little progress has been made.

That could soon change, however. According to The Inquisitr, the recent bill could be exactly what is needed for a bipartisan agreement to take place. Earlier, the Senate drafted a version that would reinstate benefits for those out of work for at least six months. The key consideration here is the absence of retroactive payments, which isn’t ideal for the unemployed but will keep costs down for employers and the states.

Now, a House version of the bill includes the same provision, something that may make the difference between getting the required votes or failing like previous attempts.

Labor market could hamper efforts
Even with the encouraging signs of support in Congress, any new unemployment insurance bill may be impacted by the current labor market. In fact, positive news may a bigger problem than some expected.

According to The Washington Post, the last few jobs reports have shown that the number of long-term jobless is actually on the way down. If this is the case, it could be an argument against benefits, as some detractors could say that a lack of financial support has forced those unemployed to find work. It could even be said that the removal of insurance directly prompted the decline in the number of long-term jobless. However, it is possible that these people are simply dropping out of the labor market altogether, complicating the actual numbers.

At Corporate Cost Control, we work closely with employers across the country to better manage the nuances of unemployment insurance. Legislation changes on the state level could impact you today, and we welcome any questions or concerns you may have on a wide range of topics.


Contact CCC to see how we can save your organization time and money.
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(800) 207-6926

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