Tennessee cuts jobless benefits
The budget sequestration adopted two years ago by Congress will force Tennessee to cut the jobless benefits paid to those unemployed more than six months by 5.5 percent, starting Saturday.
Jeff Hentschell, communications manager for the Tennessee Department of Labor and Workforce Development, said about 20,000 Tennessee claimants currently receiving emergency unemployment compensation will be affected by the cuts and others will see the benefit reductions after their 26 weeks of state jobless benefits are exhausted, if they can't find a job.
Tennessee pays a maximum weekly benefit of $275 and an average payment of about $240 for those covered by the state's Unemployment Insurance program.
Mortgage rates fall to 2-month low
Average U.S. rates on fixed mortgages fell for the third straight week to their lowest point in three months, as a decline in consumer confidence and the onset of the government shutdown forced rates down.
Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan dropped to 4.22 percent from 4.32 percent last week. The average on the 15-year fixed loan declined to 3.29 percent from 3.37 percent. Both are the lowest averages since early July.
Get breaking news from the Times Free Press on Twitter at www.twitter.com/timesfreepress
related articles »
After 50 weeks working on the loading dock at the Volkswagen plant, Justin Secall thought he was building a career ...
Unemployment rose last month in Tennessee and Georgia despite jobs gains in both states over the past year.
Unemployment declined across most of Southeast Tennessee and Northwest Georgia during April as the economic recovery continued to boost the ...
The average rate for a 30-year home loan rose above 5 percent this week for the first time since last ...