As election season draws to an end, the American economy is cruising right along despite some charged campaign rhetoric. It will be interesting to see how the candidates put their opposing spins on this report during the next debate. Analysts also think the outcome of the debate will inform the market reaction to these numbers. 156,000 jobs were added in September while unemployment is also up slightly to 5%. The labor force growth this represents is a good sign of continued economic recovery.
A broader measure of unemployment that includes those who have stopped looking for jobs as well as those working part-time for economic reasons was unchanged at 9.7 percent.
The number of workers considered not in the labor force fell by 207,000 to 94.2 million, the number in the labor population surged by 444,000 and the level of the employed jumped by 354,000, according to the household survey. The employment-to-population ratio rose to 59.8 percent, a half-percentage point gain from a year ago.
If you are frustrated with losing your Unemployment (UI) Protests, you are not alone. In fact, you are one of many. Did you know that most employers in the U.S. only win about half of the protests they file? Why is that? Well, it is due to numerous reasons such as substandard documentation, poor claims management, and lack of specific unemployment knowledge, but it could mostly be due to a poorly written employee handbook.
Every year, your company may pay hundreds of thousands of dollars in unemployment insurance taxes. Though you may not realize it. these taxes are the only controllable employer tax. You can lower your company’s tax payments one by tens or hundreds of thousands of dollars with a few changes to your claims management and human resources practices. Read more
Do you ever wish that you could make certain aspects of your workload disappear? Just think of all the free time you’d clear up to work on that “to-do list” that just keeps getting longer and longer. If you answered “Yes” to this question, you’re not alone. In fact, we’d be willing to bet if you asked employers to list all of the tasks they’d like to never see again, dealing with unemployment insurance (UI) claims would be at the top of the list. If you couldn’t agree more, we’ve got some good news — you can make most aspects of UI claims go away. How? Through the use of a TPA.
“Job growth in August was respectable though not spectacular,” says Harry Holzer, a Georgetown University professor, and former chief economist at the U.S. Labor Department.
Total nonfarm payroll employment increased by 151,000 in August, and the unemployment rate remained at 4.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in several service-providing industries.
Since 1987, the Labor Department has tracked unemployment insurance (UI) overpayments. As such, much is known about unemployment overpayments, however, few companies take action to combat fraudulent claims. This year, the value of overpaid UI benefits are expected to exceed $14 billion. The bad news? That enormous sum of money comes from businesses just like yours. The good news? Your company doesn’t have to contribute to that sobering statistic. You have the power to control your unemployment insurance costs.