Posted on 08/25/2011 9:09:04 AM PDT by Nachum
One of the oddities that seemed out of whack in this morning's weekly Unemployment Claims update was the explanation for the spike in this week's receipents of government generosity: apparently it had to do with the BLS handing out weekly benefits checks to striking Verizon workers. We will repeat the key word from that sentence because it bears repeating: "striking." Now, we may be wrong here, but if one is striking, one is not u-n-e-m-p-l-o-y-e-d, and hence the US government should probably not be using taxpayer money to double pay such individuals who have singlehandedly decided to forgo pay in return for making a labor statement. Otherwise, it kinda kills the whole "sacrifice" thing. And, lo and behold, as it turns out, we are not wrong. From JP Morgan: "Striking workers are generally not eligible to receive unemployment insurance benefits, but it looks like about half of the total amount of striking workers filed claims over these two weeks to formally determine their eligibility." Generally... except when the administration is willing to hand out money to anything and everything with a pulse. After all, there is that massive $2.2 trillion Bank of America balance sheet that has to be funded. And with direct reserve funding already failed, as per QE1 and 2, the only other possible way is via deposit increases. Alas, by the time this money could possibly be saved, it has been spent 5 times, the other 4 hitting Bank of America's bad credit card receivables department.
(Excerpt) Read more at zerohedge.com ...
Just heard on local AM news that the administration is going to honor striking Verizon workers unemployment claims...
We're finished.
That is simply horrid.
wonder if now that they are back at work they can collect back unemployment?
Someone, even BOR needs to cover this story.
can you imagine the outrage if millions knew union strikers got to collect unemployment?
what city are you in btw?
Just heard on local AM news that the administration is going to honor striking Verizon workers unemployment claims...
Wait, it just occured to me that it is each state that handles the unemployment
that is why there are differences between what you can get in one state versus another
and the largest portion of unemployment tax that an employer pays goes to the state
a very small % is paid to the Fed
Plus I would imagine Verizon would fight this. before anyone can get unemployment a letter is sent to the employer and the employer either agrees or asks for a hearing.
most people don’t realize that it is actally the employers who fund the unemployment funds AND your % you, as ab enployer, pays goes up with each filing and issuing of unemployment checks
I don’t see verizon not fighting this
Very true...I had a drunk employer fire me and then when he sobered up he said I quit...and actually went to a hearing to decide if I was to get unemployment or not. I lost. :oP
So you'd think it would be in Verizon's interest to fight this...
Wasn't told about that when we sent on strike. Glad for my $75 a week from the Teamsters. Then I joined the Navy...
Nite
That sucks for you and I hope that employer gets his some day.
As I read further I found out that there are circumstances where strikers can get unemployment but in this case they would not qualify.
Still would anyone be surprised if 0dumbo tried to get it for them. that scym 0dumbo is going to need every vote he can buy or steal
Exactly...:oP
Thanks Robert A. Cook, PE.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.