|
Average High Cost Multiple
In unemployment insurance (UI) in the United States, the average high-cost multiple (AHCM) is a commonly used actuarial measure of Unemployment Trust Fund The Unemployment Trust Fund (UTF) is composed of 59 accounts in the United States Treasury related to unemployment insurance program. Specifically, there are 53 state accounts, 4 federal accounts, and 2 accounts in connection with Railroad Retiremen ... adequacy. Technically, AHCM is defined as reserve ratio (i.e., the balance of UI trust fund expressed as % of total wages paid in covered employment) divided by average cost rate of three high-cost years in the state's recent history (typically 20 years or a period covering three recessions, whichever is longer). In this definition, cost rate for any duration of time is defined as benefit cost divided by total wages paid in covered employment for the same duration, usually expressed as a percentage. Intuitively, the AHCM provides an estimate of the length of time (measured in numbe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unemployment Insurance
Unemployment benefits, also called unemployment insurance, unemployment payment, unemployment compensation, or simply unemployment, are payments made by authorized bodies to unemployed people. In the United States, benefits are funded by a compulsory governmental insurance system, not taxes on individual citizens. Depending on the jurisdiction and the status of the person, those sums may be small, covering only basic needs, or may compensate the lost time proportionally to the previous earned salary. Unemployment benefits are generally given only to those registering as becoming unemployed through no fault of their own, and often on conditions ensuring that they seek work. In British English unemployment benefits are also colloquially referred to as "the dole"; receiving benefits is informally called "being on the dole". "Dole" here is an archaic expression meaning "one's allotted portion", from the synonymous Old English word ''dāl''. History The first modern unemployment b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unemployment Trust Fund
The Unemployment Trust Fund (UTF) is composed of 59 accounts in the United States Treasury related to unemployment insurance program. Specifically, there are 53 state accounts, 4 federal accounts, and 2 accounts in connection with Railroad Retirement Board. State accounts There is one account for each state (plus District of Columbia, Puerto Rico, and the Virgin Islands). Each state account consists of the contributions and reimbursements collected by the state. Interest earned on these amounts are credited to the state accounts. Money is withdrawn from state accounts mainly to pay unemployment benefits, with limited statutory exceptions. States sometimes use the term "Unemployment Trust Fund" to refer to their own state account. Federal accounts There are four federal accounts in the UTF that are used to provide federal financing. 1. The Employment Security Administration Account (ESAA) is used to fund the administrative costs of the UI system and of other related programs. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unemployment In The United States
Unemployment in the United States discusses the causes and measures of U.S. unemployment and strategies for reducing it. Job creation and unemployment are affected by factors such as economic conditions, global competition, education, automation, and demographics. These factors can affect the number of workers, the duration of unemployment, and wage levels. Overview Unemployment generally falls during periods of economic prosperity and rises during recessions, creating significant pressure on public finances as tax revenue falls and social safety net costs increase. Government spending and taxation decisions (fiscal policy) and U.S. Federal Reserve interest rate adjustments (monetary policy) are important tools for managing the unemployment rate. There may be an economic trade-off between unemployment and inflation, as policies designed to reduce unemployment can create inflationary pressure, and vice versa. The U.S. Federal Reserve (the Fed) has a dual mandate to achieve fu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
