Governor Douglas announced today that he is asking the Legislature to amend the unemployment compensation law to provide additional weeks of benefits to individuals in approved training. Under the American Recovery and Reinvestment Act recently passed by Congress, states must meet a number of benchmarks including the additional weeks of benefits to qualify for all of $13.9 million available to assist Vermont. The training benefit is the option most consistent with the goals of the unemployment compensation program. It allows workers income while gaining the skills necessary to return to work in a new occupation commented Governor Douglas. In addition, we need to be sure we do not add extraordinary costs to a system that is already challenged.Governor Douglas added this does not address the need for legislation to deal with the health of the unemployment insurance trust fund. The need to tackle the short and long term health of the trust fund remains a priority. We need a balanced approach that does not place too heavy a burden on Vermont s employers nor our unemployed. These additional funds will help, but do not solve the problem added the Governor.Vermont will receive $4.6 million of stimulus funding because the state already has what is called an alternative base period for qualifying for unemployment insurance. The alternative base period allows individuals applying for benefits to use the most recent wages to qualify. Most states use the first four of the last five calendar quarters of wages immediately preceding the application to determine if the worker has earned enough to qualify for unemployment compensation. The Governor supports this additional benefit because it is most closely related to the original intent of unemployment insurance which is exclusively an employer paid program. commented Patricia Moulton Powden, Commissioner of the Vermont Department of Labor. This provision will assist laid off Vermonters needing to make a career change due to the decline or demise of their former occupation. She added.The department of labor estimates the training benefit will cost Vermont employers an additional $1million a year. The expansion will offer additional benefits to persons separated from a declining industry or who were involuntarily and indefinitely separated as a result of a permanent loss of jobs at their place of employment. The person must exhaust all other benefits and be enrolled and making satisfactory progress in a pre-approved state training program to qualify.If Vermont s law is amended to meet federal requirements the additional $9.3 million will be transferred into its account in the unemployment trust fund and will be available to pay these expanded benefits to unemployed workers. The legislature must approve these changes and decide on an effective date for this expansion to become law.
Growing your loan portfolio requires detailed knowledge of target members.by: Harvey FosterLending has been reinvented over the past several years, as regulatory demands have substantially increased the expenses and operational requirements for doing business.As a result, the cost of originating mortgages has tripled over the past decade, according to the Mortgage Bankers Association’s Quarterly Performance Report.Despite additional requirements and oversight, there are still significant opportunities for credit unions right now. According to market data highlighted in a May 2015 report by Raddon Financial Group (part of Fiserv), there is an estimated $1.2 trillion market for mortgage originations this year—a 7.1% increase over 2014.This growth can be attributed to a positive outlook from consumers, which may also drive demand for an array of other loan types, such as home equity, auto, and business.In order to capitalize on the strong consumer demand, credit unions need to align their products to meet borrowers’ unique needs. Additionally, as consumers are increasingly embracing the “do-it-yourself” approach to financial services, credit unions must also have the technology in place to enable self-service options for loan shopping and applications. continue reading » 6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
The opening of the hospital comes a day after city leader Carrie Lam announced the postponement of upcoming legislative elections for a year, saying that the decision is purely protecting public health and has “nothing to do with politics”.More than 2,000 new infections have been detected since the start of July — 60 percent of the total since the virus first hit the city in late January. The new makeshift hospital set up at the city’s AsiaWorld-Expo exhibition center near the airport, will take in COVID-19 patients aged from 18 to 60. Read also: Hong Kong opens dining in shelters as residents struggle with restaurant ban “Our goal is to triage the patients from the community and provide them with appropriate treatment and hospitalization arrangement,” Dr Larry Lee from the Hospital Authority told media, adding that around 20 to 30 patients are expected to be admitted on the first day.Lee said that arriving patients will go through X-rays as well as blood, saliva and heart tests. If found unstable, patients will be sent to hospitals while stable ones will get treatment and put under medical observation at the facility.New daily infections have been above 100 for the past 10 days with total infection numbers rising to 3,272 on Friday. The death toll rose from seven to 29 in July.China has offered to send mainland testing staff to the city to carry out “large scale nucleic acid testing”. In a Saturday statement, the National Health Commission of China (NHC) said it has set up a team comprised of 60 clinical laboratory staff and an “advance unit” will arrive in the city on Sunday. Topics : Hong Kong opened a temporary field hospital with 500 beds on Saturday to house stable COVID-19 patients as the city battles a new wave of virus infections.The financial hub had been a poster child for tackling the coronavirus, with local transmissions all but ended by early summer.But since July the pathogen has returned, with some cases brought in by the tens of thousands of people who were exempted from a mandatory quarantine imposed on most arrivals.