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nostromo | karma 47008 | avg karma 10.15 · 2021-07-16 12:50:23

It’s called that, but the federal government is printing that money for the additional payout and there is no premium for the insured parties to pay.

So, yeah, this isn’t actually a form of insurance.

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EddieRingle | karma 1382 | avg karma 8.53 · 2021-07-16 13:02:28

The premium is paid by employers for each W2 employee. It's a cost of hiring W2 workers that you could argue ultimately falls on those workers as well, as a 1099 worker could negotiate a higher income in exchange for the employer not having to pay for those sorts of benefits.

nostromo | karma 47008 | avg karma 10.15 · 2021-07-16 13:31:01

This isn’t true anymore. Premiums cover a small fraction of unemployment benefits during Covid.

Firstly, the additional federal dollars are paid for by the federal government, not the states. That is printed money.

Secondly, the federal government also paid large portions of unemployment in assistance to the states - something it also did in 2008.

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