Jobless Compensation in Boom and Recession

Archive Report

How well the present federal-state system of unemployment compensation would weather a prolonged economic recession is a question now under close study by government economists and the staffs of various congressional committees. The subject will come up for debate early in the 1954 session of Congress when the Senate considers a bill passed by the House in July which would establish a federal loan fund to assist states which may encounter difficulties in meeting their obligations to the jobless.

Set up by the Social Security Act of 1935, the unemployment compensation system has now been in full operation for a period just short of 15 years. While the act imposed a federal payroll tax of one per cent in 1936, rising to three per cent ...

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