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North Carolina’s Economic Conditions

North Carolina’s Economic Conditions . Employment Security Commission of North Carolina. David L. Clegg Deputy Chairman and Chief Operating Officer. North Carolina’s Unemployment Rate. July 2009 8th highest in the Nation. Michigan 15.0 Rhode Island 12.7 Nevada 12.5 Oregon 11.9

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North Carolina’s Economic Conditions

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  1. North Carolina’sEconomic Conditions Employment Security Commission of North Carolina David L. CleggDeputy Chairman and Chief Operating Officer

  2. North Carolina’s Unemployment Rate • July 2009 8th highest in the Nation Michigan 15.0 Rhode Island 12.7 Nevada 12.5 Oregon 11.9 California 11.9 South Carolina 11.8 Ohio 11.2 North Carolina 11.0 United States 9.7

  3. North Carolina’s Unemployment RateSeasonally Adjusted July 2008 June 2009 July 2009 Labor Force 4,536,387 4,554,663 4,536,813 Employment 4,248,544 4,052,943 4,039,946 Unemployed 287,843 501,720 496,867 Unemployment Rate 6.3 11.0 11.0

  4. Industry Employment • Since the Beginning of the Recession in December of 2007 • North Carolina has experienced a decline of 260,300 jobs • Manufacturing has lost 60,500 jobs • Construction has lost 56,100 • Professional and Business Services lost 37,900 • Financial Activities 13,000

  5. Employment Services • Since the beginning of the Recession ESC has experience a large increase in citizens seeking services Registered Applicants July,2006 - June,2007 803,004 July,2007 - June,2008 843,477 July,2008 - May,2009 947,268

  6. Unemployment Compensation Programs • Unemployment Insurance (26 weeks) • Extended Unemployment Compensation (EUC Tier I) (20 Weeks) • Extended Unemployment Compensation (EUC Tier II) (13 Weeks) • Federal Additional Compensation (FAC) • Extended Benefits (EB) and EB HUP (20 Weeks)

  7. ESC Legislation 2009 • House Bill 1090 Severance Pay and Unemployment Benefits • House Bill 1124 Severely Disabled Veterans • Senate Bill 894 Substitute Teachers

  8. UI Modernization • Incentive payments to states utilizing “Reed Act” distribution (NC - $205,063,552) Incentive payments 1/3 - Alternate Base Period ($68,354,517) 2/3 – Modernization of UI Eligibility (136,709,035) • Part Time Workers • Domestic Violence • Trailing Spouse • Undue Family Hardship

  9. House Bill 877 • SEEKING ONLY PART-TIME WORK • COMPELLING FAMILY REASONS • DOMESTIC VIOLENCE • ILLNESS • DISABILITY • LEAVING WORK TO ACCOMPANY A SPOUSE DUE TO A RELOCATION OF WORK

  10. Exhausting Benefits • Next 60 days 10,649 • 61 – 120 days 19,238 • 121-180 days 71,774 • Over 180 days 407,511

  11. Trust Fund Balance • Benefits Paid (Aug. 08 – July 09) • $2.3 Billion • UI Taxes Collect (Aug. 08 – July 09) • $1.01 Billion • Trust Fund Balance • ($1,108,805,668) • State Reserve Fund Balance • $49,429,213

  12. Statistics • Average Weekly Benefit (July 2009) $302.50 • Average Week Wage (4th Qtr. 2008) $740.00 • Maximum Weekly Benefit Amount: $505.00 • Average Duration • NC – 13.3 weeks • US – 15.7 weeks

  13. American Recovery and Reinvestment Act (ARRA) Program Changes • Federal Additional Compensation (FAC) program (Feb 2009 – July 2010) • Additional $25.00 • Extended Benefits • 100% Federally funded for claims after February 19 • Triggered on in October (13 weeks) • High Unemployment trigger in April (additional 7 wks) • Extension of Emergency Unemployment Compensation (EUC08) • Extended program until December 2009 and phased out by May 2010

  14. American Recovery and Reinvestment Act • Unemployment Insurance Special Administrative Transfer • Wagner-Peyser Act and Reemployment Service • Unemployment Insurance Modernization Incentive Payments • Trade Adjustment Assistance

  15. Special Provisions • Amendments Affecting Interest due on Title XII Advances • Suspends all interest payments on Federal Loans until December 31, 2010 • Suspension of Federal Income Tax on the first $2,400 of UI Benefits

  16. Trade Adjustment Assistance • TAA expanded and changed in several ways. • Include workers in firms in the services sector • Expands the universe of adversely affected secondary workers that could be eligible for TAA. • State will receive additional funds for provision of employment and case management services. • Renames ATAA (Alternative Trade Adjustment Assistance) to reemployment TAA. • Expands TAA for Farmers program to include fisherman as well as farmers. • Expands Health Care Tax program to cover 80% of allowable cost. • Office of TAA at the US DOL ETA

  17. Training Support • During 2008, ESC issued training support payments to individuals totaling more than $58.5 million: • TAA: ESC paid $11.5 Million to training institutions for tuition, books and other fees. Also paid additional $3.7 Million in transportation cost. • In addition, ESC collected over $ 22 Million in court- ordered child support payments during the year.

  18. Employment Security Commission David L. Clegg Deputy Chairman and Chief Operating Officer

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