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Blog Category: Unemployment Insurance

How You Can Analyze Federal Programs Using BEA Statistics: A Look at Unemployment Insurance Benefits Payments

Bureau of Economic Analysis logo

The national income and product accounts, produced by the Bureau of Economic Analysis (BEA), provide a consistent and comprehensive picture of the nation’s economy; as a result, they provide a useful tool for analyzing the economic effects of recent federal legislation designed to stabilize and stimulate the economy.   For example, it’s logical that reduced income tax rates and expanded tax credits lowered personal current tax receipts, but by how much? It makes sense that a reduction in the social security tax rate lowered contributions for government social insurance, but how do you put that reduction in context?  Or by how much did federal assistance to states increase over previous periods?  BEA’s national accounts can help you find the facts and answer these sorts of questions.

Here’s an easy and interesting example:   What government program explains the increase in government social benefits over the course of the recent recession? 

Data from the BEA show that total government social benefits, as a share of personal income, increased from 14.2 percent in the first quarter of 2008 to 18.3 percent in the fourth quarter of 2010. That’s a notable increase, but what’s behind those numbers?

The American Jobs Act: Full of Bipartisan Ideas

View of Joint Session from birds-eye view (White House photo)

The American people understand that the economic crisis and the deep recession weren’t created overnight and won’t be solved overnight. The economic security of the middle class has been under attack for decades. That’s why President Obama believes we need to do more than just recover from this economic crisis—we need to rebuild the economy the American way, together, based on balance, fairness, and the same set of rules for everyone from Wall Street to Main Street. Members of Congress on both sides of the aisle should lend their bipartisan support for the American Jobs Act—because it is full of bipartisan ideas.   White House fact sheet and overview

The American Jobs Act: Pathways Back to Work for Americans Looking for Jobs

American Jobs Act logo

President Obama continues to call upon Congress to pass the American Jobs Act. He has explained how his proposals will benefit the unemployed and put money back in Americans' pockets. One proposal includes Pathways Back to Work for Americans Looking for Jobs. This section of the president’s plan would help out-of-work Americans and their families by extending unemployment insurance to prevent six million Americans looking for work from losing their benefits, while at the same time reforming the system to help support programs that build real skills, connect to real jobs, and help the long-term unemployed. The president’s plan is targeted to address long-term unemployment in an aggressive, multi-pronged way, drawing from ideas about what is working from around the country and from both parties. 

Key elements of his proposal are:

  • The most innovative reform to the unemployment insurance program in 40 years: As part of an extension of unemployment insurance to prevent five million Americans looking for work from losing their benefits, the president’s plan includes innovative work-based reforms to prevent layoffs and give states greater flexibility to use Unemployment Insurance (UI) funds to best support job-seekers and connect them to work.
  • A $4,000 tax credit to employers for hiring long-term unemployed workers.
  • Prohibiting employers from discriminating against unemployed workers when hiring.
  • Expanding job opportunities for low-income youth and adults by investing in promising and proven strategies and programs like summer jobs and sector-based training programs.

White House fact sheet