Revised employment insurance law enacted.TOKYO, April 28 KyodoThe Diet enacted an amendment to the Employment Insurance Law on Friday, paving the way for the government to raise premiums on its employment insurance program and cut insurance payments from April 2001. The House of Councillors approved the amendment at its plenary session Plenary session is a term often used in s to define the part of the conference when all members of all parties are in attendance. These sessions may contain a broad range of content from Keynotes to Panel Discussions and are not necessarily related to a specific style of delivery. in the morning. It had already been passed by the House of Representatives on April 14. The amendment is intended to prevent the government's employment insurance program from falling short of funds due to the swelling number of unemployed. Japan's jobless job·less adj. 1. Having no job. 2. Of or relating to those who have no jobs. n. (used with a pl. verb) Unemployed people considered as a group. Used with the. rate stood at a record high 4.9% for the second consecutive month in March, reflecting the continued weakness of the Japanese economy, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a government report released Friday. The revised law, which will take effect on April 1, 2001, will allow the government to raise the insurance premium rate, currently set at 0.8% of the monthly wage, to 1.2%. Premiums for an average policyholder Policyholder An individual who owns an insurance policy. with an annual income of 4.7 million will increase by 9,400 yen a year. The revised law will also authorize To empower another with the legal right to perform an action. The Constitution authorizes Congress to regulate interstate commerce. authorize v. to officially empower someone to act. (See: authority) the government to reduce insurance benefits for the unemployed by more than 20%. Under the current program, people who have lost their jobs receive insurance benefits equivalent to 50% to 80% of their wages for 90 to 300 days. The payment period will be shortened to a maximum of 180 days under the revised law. Those forced out of work due to bankruptcies or restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). , however, will be able to receive benefits for up to an additional 150 days. |
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