unemployment Insurance policy

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UNEMPLOYMENT INSURANCE POLICY (prepared by Tadey Tarimo) Unemployment occurs in many forms and it has been a crucial problem countryside and whole over the world. These have become an issue to majority of Tanzanian and many people around the globe, the situation has forced various countries to either formulate or adopt some policies to rectify the issue. The magnitude of the issue has practically depicted in the research conducted in 2012 by African Economic Outlook in Tanzania, the study which aimed at assessing various programs and policies in various sectors and their contribution to Gross Domestic Product, in improving economy, and unemployment reduction. According to African Economic Outlook 2012 unemployment is becoming a concern…show more content…
POLICY DOCUMENT; OVERVIEW ON HOW OTHER COUNTRIES HAVE SUCCESSES ON THE POLICY AND CHALLENGES THEY FACE; Most of developed countries have in a different periods initiated unemployment insurance for the sake of solving the problem of unemployment in their countries; European Union, USA (1935), Canada (1940) and other developed nations have since then using the policy though it has been passing several changes in order to make it cope with the growing rate of the economy and the need of the society. United State for example, unemployment insurance program is intended to offset income lost by workers who lose their jobs as a result of employer cutbacks. The program, launched by the Social Security Act of 1935, is the government 's single most important source of assistance to the jobless. A second goal of the program is to counter the negative impacts on the national economy, and especially on local economies, of major layoffs, seasonal cutbacks, or a recession. Unemployment benefits help sustain the level of income and hence the demand for goods and services in areas hard hit by unemployment. In short, unemployment insurance supports consumer buying power. Not all unemployed workers are eligible for unemployment insurance. In fact, from 1984 to 1989 the proportion of the unemployed receiving benefits was at or below 34 percent every year. Benefits are not paid to employees who quit their jobs voluntarily or are fired for cause. Nor
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