Mike Shedlock

Here's some new charts from reader Tim Wallace on "Covered Employment" (working in a job eligible for unemployment benefits).

First a few notes ....

Typically, hours worked and wages paid to employees in covered employment are used as a basis in establishing unemployment benefits should an employee becomes unemployed by no fault of their own.

Self-employed people are not covered by unemployment insurance but we still have to pay into the system.

Covered employees are entitled to unemployment benefits if they earn enough wages and meet eligibility requirements of their state.

For example, the State of Washington requires 680 hours of covered employment to be eligible for unemployment benefits.

Covered Employment

Covered Employment Notes

  • Covered employment hit 128,673,493 in January 2002.
  • Since then, the working age population has grown by 30 million.
  • Covered employment was 133,902,387 in December 2008.
  • Covered employment is 130,396,096 now, a decline of 3,560,291.

Mike Shedlock

Mike Shedlock is a registered investment advisor representative for Sitka Pacific Capital Management.

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