Unemployment Insurance Claims and the Impact of COVID-19 Ellen - - PowerPoint PPT Presentation

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Unemployment Insurance Claims and the Impact of COVID-19 Ellen - - PowerPoint PPT Presentation

Sep 07, 2023 246 likes •357 views

Unemployment Insurance Claims and the Impact of COVID-19 Ellen Marie Hess, Commissioner Virginia Employment Commission Federal CARES Act Unemployment Benefits Pandemic Unemployment Assistance (PUA) Provides for up to 39 weeks of benefits to

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SLIDE 1

Unemployment Insurance Claims and the Impact of COVID-19

Ellen Marie Hess, Commissioner

Virginia Employment Commission

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SLIDE 2

Federal CARES Act Unemployment Benefits

  • Pandemic Unemployment Assistance (PUA) Provides for up to 39

weeks of benefits to individuals who are self-employed, seeking part-time employment, or otherwise would not qualify for regular unemployment compensation (UC) or extended benefits under state or federal law

  • Pandemic Emergency Unemployment Compensation

(PEUC) Provides for up to 13 weeks of benefits to individuals who have exhausted regular UC under state or federal law

  • Federal Pandemic Unemployment Compensation

(FPUC) Provides individuals who are collecting regular UC, PEUC, PUA, with an additional $600 per week.

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SLIDE 3

Initial Claims: 1971- May 30, 2020

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50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000

Initial Claims

Recession Initial Claims

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SLIDE 4

Unemployment Insurance Claims

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Total Benefits Payments

  • UI $915,334,000
  • FPUC $2,633,761,000
  • PUA $188,125,779

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UI 25% FPUC 70% PUA 5% UI FPUC PUA

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SLIDE 6

Trust Fund Net Expenditures*

200 400 600 800 1000 1200 1400

2020 Q1 2020 Q2 2020 Q3 2020 Q4 Millions 6

*Projections

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SLIDE 7

Trust Fund Balance*

  • 1000
  • 500

500 1000 1500 2000

2020 Q1 2020 Q2 2020 Q3 2020 Q4 Millions 7

*Projections

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SLIDE 8

UI Activity Then and Now

  • 820,000 claims since March 15th compared to 11,000 per month

prior to the pandemic with over 620,000 claims paid since March 15th, an all time record

  • Call Center staffing and calls answered has more than quadrupled

to over 28,000 per week

  • Weekly claim volume through phone system over 530,000

compared to 28,000 prior to the pandemic

  • Total payments of $3.8 Billion compared to less than $25

million per month prior to the pandemic

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SLIDE 9

Contact Information

 Ellen Marie Hess, Commissioner: 804-786-3001 EllenMarie.Hess@vec.virginia.gov  Jeff Ryan, Chief Deputy Commissioner: 804-786-3001 Jeffrey.Ryan@vec.virginia.gov  Bill Walton, UI Director: 804-786-0873 William.Walton@vec.virginia.gov

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