This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NC Legislative Panel Moves Jobless Debt Plan Along

Critics say the overhaul is one-sided upon displaced workers. The plan would cut the overall amount of state benefits disbursed to them by half, while the average weekly benefit amount would fall at least 10 percent below the current average of $296, according to a study by the National Employment Law Project.

Unemployment benefits get plowed back into local economies to pay for rent, food and other living needs, project senior staff attorney George Wentworth said at a news conference.

Committee member Sen. Floyd McKissick, D-Durham, urged colleagues to look for other options that don't place such a hardship upon displaced workers.

"We need to have some compassion and respect for the fact that people are at probably the most difficult and challenging points in their lives and they're depending on unemployment compensation," McKissick told the committee.

Backers of the proposal say both business and workers share in the burden of fixing the problems with the trust fund, which some say are two decades in the making. Republicans on the committee pointed out the plan would apply to unemployment claims filed after July 1 and argued few people currently receive the maximum weekly benefit.

Rucho and others have said benefit changes bring North Carolina's levels more in line with surrounding states.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,751.39 +121.12 0.69%
S&P 500 2,108.57 +15.32 0.73%
NASDAQ 5,111.7330 +22.5270 0.44%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs