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Yahoo
20-03-2025
- Business
- Yahoo
Colorado labor department holds town halls for laid-off federal workers
Protesters demonstrated outside the National Oceanic and Atmospheric Administration's Boulder campus on March 3, 2025, in protest of mass layoffs of federal workers by the Trump administration. (Chase Woodruff/Colorado Newsline) With thousands of federal employees in Colorado at risk of termination by President Donald Trump and Elon Musk's so-called Department of Government Efficiency, the state's labor department is taking steps to help connect workers with unemployment insurance and other resources. Over 600 former federal workers have filed for unemployment with the state over the last two months, said Cher Haavind, deputy executive director of the Colorado Department of Labor and Employment. 'We certainly want to be prepared to assist you with any unemployment insurance claim questions, and then also provide you with those support services to help you meet your re-employment goals,' Haavind said during a virtual town hall meeting for laid-off employees Wednesday. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX Colorado provides up to 26 weeks of unemployment benefits at 55% of a recipient's previous wages, through a program administered by CDLE but funded by the federal government. Benefits for former federal workers are subject to certain eligibility requirements under the Unemployment Compensation for Federal Workers, or UCFE, program. Adjudicating federal unemployment claims under UCFE can be complicated, said Phil Spesshardt, director of CDLE's Division of Unemployment Insurance, by the fact that federal agencies don't report quarterly wage figures to the state like typical employers do. He advised claimants to submit pay stubs, bank statements and other documentation as part of their claim, 'in case the federal government does not respond to our request for wages.' 'It's not necessarily the most efficient system in the world, but that's the one we have from the federal government,' Spesshardt said. Mass firings of 'probationary' employees — those recently hired or promoted — have hit the National Oceanic and Atmospheric Administration, the U.S. Forest Service, the National Park Service and many other agencies with a presence in Colorado. Thousands more of the roughly 50,000 federal employees in the state could be at risk of termination as Musk's DOGE initiative proceeds with 'reduction in force' plans in the coming weeks. In general, people who voluntarily resigned from their jobs are not eligible for unemployment insurance. But Spesshardt implied that some federal workers who accepted the administration's controversial 'Fork in the Road' buyout offer may be eligible because of its threat of future mass layoffs. 'We're going to look at what you believe may have been reasonable,' Spesshardt said. 'If you have a copy of the 'Fork in the Road' letter, make sure you attach and upload a copy of that. Because there are certain things within there that might lead you to believe that if you didn't accept that anyway, you might have otherwise been terminated or laid off.' Federal employees who have been laid off and then reinstated can continue to receive unemployment benefits until they return to work, CDLE officials said. But if employees receive back pay, they may have to pay back the benefits they received during that period. Finally, Spesshardt emphasized that under Colorado law, neither the federal government nor any employer can prevent someone from filing for unemployment. 'There have been rumors out there for some federal employees that may have been told you cannot file a claim, you are not eligible,' he said. 'The state of Colorado processing a claim will determine whether your separation constitutes an eligible separation to receive benefits, but it is specifically against Colorado statute to prohibit you from filing an unemployment insurance claim.' Jessica Greene, deputy chief human resources officer at the Colorado Department of Personnel Administration, joined the town hall to encourage former federal workers to apply for one of the more than 500 open jobs in state government. 'As federal employees, this group knows more than most the value and impact of public service on our citizens,' said Greene. 'We would welcome anyone who is interested in continuing their career in public service to apply at the state.' CDLE will host another town hall at 4 p.m. Thursday. Recordings of both events will be available on the department's YouTube page. SUPPORT: YOU MAKE OUR WORK POSSIBLE
Yahoo
20-03-2025
- Business
- Yahoo
US weekly jobless claims rise marginally as labor market remains stable
WASHINGTON (Reuters) - The number of Americans filing new applications for unemployment benefits increased slightly last week, suggesting the labor market remained stable in March, though the outlook is darkening amid rising trade tensions and deep cuts in government spending. Initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 223,000 for the week ended March 15, the Labor Department said on Thursday. Economists polled by Reuters had forecast 224,000 claims for the latest week. Claims have been bouncing in the middle of their 203,000-242,000 range for this year, with layoffs generally staying low and hiring cooling off. A separate program for unemployment compensation for federal employees (UCFE), which is reported with a one-week lag, still showed little impact of the mass firings of public workers by President Donald Trump's administration as part of an unprecedented push to shrink the government. Labor analysts said the rapid firings by tech billionaire Elon Musk's Department of Government Efficiency, or DOGE, were in some cases being undertaken in ways that made it harder for laid-off workers to file for unemployment benefits. The government in court filings this week acknowledged that nearly 25,000 recently hired workers had been fired. A judge ruled their terminations were likely illegal, resulting in them being reinstated, though placed on administrative leave at least temporarily. Trump's often chaotic tariffs campaign has hurt business sentiment, with economists saying policy volatility was making it harder for companies to plan ahead. Bank of America aggregated credit and debit card data published this week showed a broad moderation in small business spending. Bank of America Institute said the shift in sentiment and capital expenditures could slow new business formation and ultimately the small business labor market, the key driver of employment growth. The Federal Reserve on Wednesday held its benchmark overnight interest rate in the 4.25%-4.50% range, in a nod to the uncertainty swirling around the economy. U.S. central bank policymakers, however, indicated they still anticipated reducing borrowing costs by half a percentage point by year end. Fed Chair Jerome Powell told reporters that "conditions in the labor market are broadly in balance." The claims data covered the period during which the government surveyed businesses for the nonfarm payrolls portion of March's employment report. The economy added 151,000 jobs in February. Data next week on the number of people receiving benefits after an initial week of aid, a proxy for hiring, could offer more clarity on the health of the labor market in March. The so-called continued claims increased 33,000 to a seasonally adjusted 1.892 million during the week ending March 8, the claims report showed. The Fed projected the unemployment rate rising to 4.4% this year, revised up from the 4.3% forecast in December. Sign in to access your portfolio
Reuters
20-03-2025
- Business
- Reuters
US weekly jobless claims rise marginally as labor market remains stable
WASHINGTON, March 20 (Reuters) - The number of Americans filing new applications for unemployment benefits increased slightly last week, suggesting the labor market remained stable in March, though the outlook is darkening amid rising trade tensions and deep cuts in government spending. Initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 223,000 for the week ended March 15, the Labor Department said on Thursday. Economists polled by Reuters had forecast 224,000 claims for the latest week. here. Claims have been bouncing in the middle of their 203,000-242,000 range for this year, with layoffs generally staying low and hiring cooling off. A separate program for unemployment compensation for federal employees (UCFE), which is reported with a one-week lag, still showed little impact of the mass firings of public workers by President Donald Trump's administration as part of an unprecedented push to shrink the government. Labor analysts said the rapid firings by tech billionaire Elon Musk's Department of Government Efficiency, or DOGE, were in some cases being undertaken in ways that made it harder for laid-off workers to file for unemployment benefits. The government in court filings this week acknowledged that nearly 25,000 recently hired workers had been fired. A judge ruled their terminations were likely illegal, resulting in them being reinstated, though placed on administrative leave at least temporarily. Trump's often chaotic tariffs campaign has hurt business sentiment, with economists saying policy volatility was making it harder for companies to plan ahead. Bank of America aggregated credit and debit card data published this week showed a broad moderation in small business spending. Bank of America Institute said the shift in sentiment and capital expenditures could slow new business formation and ultimately the small business labor market, the key driver of employment growth. The Federal Reserve on Wednesday held its benchmark overnight interest rate in the 4.25%-4.50% range, in a nod to the uncertainty swirling around the economy. U.S. central bank policymakers, however, indicated they still anticipated reducing borrowing costs by half a percentage point by year end. Fed Chair Jerome Powell told reporters that "conditions in the labor market are broadly in balance." The claims data covered the period during which the government surveyed businesses for the nonfarm payrolls portion of March's employment report. The economy added 151,000 jobs in February. Data next week on the number of people receiving benefits after an initial week of aid, a proxy for hiring, could offer more clarity on the health of the labor market in March. The so-called continued claims increased 33,000 to a seasonally adjusted 1.892 million during the week ending March 8, the claims report showed. The Fed projected the unemployment rate rising to 4.4% this year, revised up from the 4.3% forecast in December.
Axios
19-03-2025
- Business
- Axios
March shows a big jump in Virginia unemployment claims
First-time unemployment claims filed by Virginians surged in the first full week of March, according to the latest stats from Virginia Works. Why it matters: It could be the first data-driven look at the impact of the Trump administration's federal spending and workforce cuts on local jobs. By the numbers: There were 4,036 initial unemployment insurance claims filed for the week ending March 8, the most recent week available, according to a news release from Virginia Works. That's 40% higher than the 2,881 first-time claims filed the previous week and 81 % more than the 2,229 filed for the same week in 2024. Zoom in: A full picture of which industries were affected wasn't available. Less than 66% of claims included a self-reported industry. Of those that did, 619 of the filers said they worked in manufacturing and 509 in professional services, the two highest job categories. Between the lines: Virginia's latest unemployment numbers include the 566 claims filed for Unemployment Compensation for Federal Employees (UCFE) in Virginia, the release notes. Each state administers UCFE for laid-off federal workers and some federal contractors, but it doesn't cover workers whose jobs could be lost through federal funding. Yes, but: UCFE benefits apply to the state in which the employee worked, not where they lived, according to the Virginia Employment Commission. So a federal worker who lives in Virginia but works at an agency based in D.C. or Maryland would apply for benefits there, not in-state. Zoom out: Nationwide, there were 220,000 new unemployment claims for the first full week of March, a 2,000 filing drop from the previous week, WTOP reported.
Yahoo
13-03-2025
- Business
- Yahoo
US weekly jobless claims fall amid labor market stability
WASHINGTON (Reuters) - The number of Americans filing new applications for unemployment benefits fell last week, but sharp government spending cuts and an escalating trade war threaten labor market stability. Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 220,000 for the week ended March 8, the Labor Department said on Thursday. Economists polled by Reuters had forecast 225,000 claims for the latest week. Claims have settled after spiking in late February amid winter storms and difficulties adjusting the data for seasonal fluctuations around the Presidents Day holiday. Though the labor market remains on solid ground, policies by President Donald Trump's administration pose a downside risk. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Thousands of federal government workers, mostly on probation, have been fired by tech billionaire Elon Musk's Department of Government Efficiency, or DOGE, an entity created by Trump to drastically shrink the government. Trump views the federal government as bloated and wasteful. Unions representing some of the civil servants have challenged the layoffs, resulting in reinstatements. Agencies have a Thursday deadline to submit plans for large-scale layoffs. The federal government upheaval has not yet significantly filtered through to official labor market data. A separate unemployment compensation for federal employees (UCFE) program, which is reported with a one-week lag, showed applications little changed. Spending cuts have, however, impacted contractors, accounting for the elevation in Washington D.C. claims. The number of people receiving benefits after an initial week of aid, a proxy for hiring, decreased 27,000 to a seasonally adjusted 1.870 million during the week ending March 1, the claims report showed. Policy uncertainty, which has raised the odds of recession this year, is eroding business confidence and making companies hesitant to increase headcount. February's employment report showed a broader measure of unemployment jumping to near a 3-1/2-year high last month. The Federal Reserve is expected to keep its benchmark overnight interest rate in the 4.25%-4.50% range next Wednesday, having reduced it by 100 basis points since September. Financial markets expect the U.S. central bank to resume cutting borrowing costs in June after it paused its easing cycle in January. The policy rate was hiked by 5.25 percentage points in 2022 and 2023 to tame inflation.
