NYS Unemployment Insurance for the Self-Employed

Congress passed and NYS implemented the Pandemic Unemployment Assistance (PUA) legislation on March 27, 2020. It provides unemployment insurance for the self-employed and independent contractors who have been negatively impacted by COVID-19.

In order to receive benefits, you first must apply for unemployment insurance through NYS Department of Labor and be denied. You will then be able to apply for PUA. The amount you receive depends on your recent earnings. The current maximum benefit is $504 per week for up to 39 weeks. There is also an additional $600 per week that you can receive until July 31, 2020.

Small business is the engine that drives the economy and is suffering terribly during this crisis. Please feel free to forward this to anyone you may know who is also impacted. If your primary residence is not NYS, please look into your state’s program.

Latest Posts

28 Jun

Recessions, Inflation and the Market

Recessions are generically defined as two negative quarters of Gross Domestic Product (GDP) in a row. Q1 GDP came in negative. However, this substantially overstates the slowdown in economic growth. It was dragged negative mainly from the imbalance between our imports and exports (imports reduce GDP and exports increase GDP). If we just look at consumption and fixed investment, we see growth that is actually faster than the prior two quarters. The economy was continuing to overheat, despite the negative GDP figure for Q1. This is why recessions are “generically” defined as two negative quarters of GDP in a row.

01 Feb

Interest Rate Hikes & Stock Performance

During the pandemic the Federal Reserve lowered interest rates to nearly zero in an attempt to spur economic activity. This endeavor was clearly very successful considering GDP for 2021 ran at about triple the rate of our historical average. This has been good news for equity investors because earnings growth and profit margins exploded to the upside.

09 Feb

Relationship Between Blockchain, Tether and Bitcoin

Blockchain technology is a protocol like http for the internet and webpages. It controls how the network operates but the code itself is not owned by anyone. This technology is game changing because it is essentially a giant ledger of information that cannot be altered. It can be used to track orders, payments, accounts, production, assets and other things. As a result, something of value can now be sent electronically without a third party institution. Currently, when we make a purchase or move money or assets from one person to another, we use a financial institution. Blockchain potentially removes the need for the financial institution.

info@marathon-mission.com

NYS Unemployment Insurance for the Self-Employed