The South Carolina Department of Employment and Workforce recently announced an increase in the state’s maximum unemployment insurance benefit to $350 per week, marking the first real increase in nearly two decades. Despite the fact that the majority of recipients will receive less than this amount and the unemployment rate in the state is currently under 5 percent, some lawmakers are considering further increases in benefits.
During a Senate Labor, Commerce, and Industry subcommittee meeting, Republican Senators discussed the possibility of raising unemployment insurance rates to match inflation. They argued that those receiving benefits are often in situations beyond their control, such as being laid off, and may not have access to the same resources as higher-income earners who lose their jobs. Lower-income earners may also face limited job opportunities in certain areas of the state.
While conversations in the Statehouse have largely focused on restricting benefits, the idea of increasing payouts has gained traction among some lawmakers. The state’s Unemployment Insurance Trust Fund balance has been steadily increasing, even after a rise in benefits paid out during the COVID-19 pandemic. Lawmakers believe that raising benefits to better reflect the cost of living and economic conditions could provide much-needed support to those in need.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
