Bidenomics: Unemployment Insurance Claims Leap as over 1.8 Million Americans Receive Benefits

State unemployment insurance claims rose last week by 12,000 while the number of people who are receiving benefits reached 1.875 million for the week ending Dec. 16, according to seasonally adjusted data released Thursday by the Labor Department. 

Seasonally adjusted initial claims hit 218,000 for the week ending Dec. 23 after rising by 12,000, according to the latest data. 

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Legislation Would Clarify Work-Search Requirement for Pennsylvania Unemployment Compensation

A bill soon to be reintroduced in Pennsylvania’s General Assembly aims to prevent unemployment claimants from undermining their own job searches to keep benefits flowing. 

Last year, state Representative Shelby Labs (R-Doylestown) introduced the legislation to explicitly codify state policy on work-search requirements. The commonwealth requires every individual seeking unemployment compensation (UC) to apply for at least two jobs and follow through with one work-search activity every week. 

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Pennsylvania Business Leaders Alert Lawmakers to Prosperity Hindrances

Pennsylvania’s House Republican Policy Committee on Thursday heard testimony from several small-business executives Thursday suggesting that unemployment compensation (UC) taxes among other issues pose major impediments to economic growth in the Keystone State. 

As The Pennsylvania Daily Star reported this week, Pennsylvania has lagged behind other states in terms of making up economic ground lost during the COVID-19 pandemic. In July 2022, about 6.17 million Pennsylvanians held jobs, a 2.8-percent rise over the same month one year prior. National employment meanwhile increased 3.7 percent during that time. 

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COVID Restrictions’ Impact on Pennsylvania Still Felt, Forecasted to Persist

Pennsylvania’s Independent Fiscal Office (IFO) on Monday issued a report on the state’s economy indicating COVID-era restrictions continue to make a negative impact.

The IFO composed the report to inform lawmakers as they begin a series of state budget hearings this week. The agency observes that the Keystone State’s labor-force-participation rate is at its lowest in 37 years and forecasts that jobs numbers won’t return to their December-2019 apex for at least another three years.

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