Unemployment numbers are at some their lowest rates since pre-recession levels. Our economy is strong, however, unemployment insurance remains a cost that employers and businesses should evaluate and understand in order to remain profitable and growing.
THE HISTORY OF UNEMPLOYMENT BENEFITS
Unemployment insurance benefits first appeared in Wisconsin in 1932 as part of an effort to provide relief to workers who were unemployed as a result of the 1929 financial collapse. Six other states followed suit before the first federal unemployment insurance program was created as part of the Social Security Act of 1935. By 1937, every state in the Union and the then-territories of Alaska and Hawaii had enacted their own unemployment insurance programs.
