Economic Development, Agriculture, and Natural Resources Subcommittee Dolores Esser, Commissioner Virginia Employment Commission January 29, 2009.

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Presentation transcript:

Economic Development, Agriculture, and Natural Resources Subcommittee Dolores Esser, Commissioner Virginia Employment Commission January 29, 2009

+ Virginia’s Unemployment Rates (year to date) This year all unemployment rates have been above the year- ago rates. January rate of 1996 was 5.3% 2

FUTA - Federal Unemployment Tax Act Employers pay $56 on each employee Paid on Federal Tax Return Funds support the Administration of VEC services—JS, UI, VET, LMI, etc. 3

FUTA Receipts by USDOL vs. Administrative Funding Returned to Virginia

Actual Dollars & Percentages 5

Recent Results of Funding Levels 2005 – closed offices in Newport News, Richmond, and Virginia Beach 2007 – layoffs of 157 staff and elimination of 86 unfilled positions, effective March, – closed offices in Fairfax, Richmond, Buena Vista, and Suffolk 6

Contingency Funding for UI Positions earned and base positions are determined by workload When total positions earned exceed funded base, positions result in contingency funds June 30, $246 Sept. 30, $577,047 Dec. 31, estimated at $2.7 million 7

Federal Stimulus Package UI modernization - $7 billion U.S. Increase access UI benefits Alternative base period - $65.1 million Virginia 8

Federal Stimulus Package State must enact two of four provisions to qualify for additional funds - $130.2 million for Virginia Permit part-time workers to seek part-time work. Permit voluntary separations from employment for compelling family reasons. (SB 1495) Provide extended compensation to claimants in training for high demand occupations. Provide dependent allowances to claimants with children. 9

Federal Stimulus Package $500 million to states for administration of UI programs - $13.7 million for Virginia Increase unemployment benefits by $25 per week using federal funds until December 2009 Extension of Emergency Unemployment Compensation Program program phases out March 31, 2009 extend through December

11 Economic Development, Agriculture, and Natural Resources Subcommittee Dolores Esser, Commissioner Virginia Employment Commission January 29, 2009 Any Questions?