Federal trade readjustment allowance,
Definition of Federal trade readjustment allowance:
The Federal Trade Act provides special benefits under the Trade Adjustment Assistance (TAA) program to those who were laid off or had hours reduced because their employer was adversely affected by increased imports. In order to be covered, the increased imports need to be a result of trade arrangements permitted under the Trade Act of 1974.
Federal Trade Readjustment Allowance is a form of income support payments made to individuals who have exhausted unemployment compensation and whose jobs were directly affected by foreign imports (as determined by a certification of group coverage issued by the U.S. Department of Labor).
Income subsidy that an unemployed individual may receive upon exhaustion of unemployment benefits if the individuals job was lost due to foreign imports. The Trade Act of 1974 created the Trade Adjustment Assistance (TAA) program, which includes the allowance, so workers adversely affected by trade impacts can receive training, education and income assistance.
How to use Federal trade readjustment allowance in a sentence?
- If a steelworker has been laid off and is unable to find work within the window of standard unemployment insurance (UI) coverage, they may be entitled to a Federal Trade Readjustment Allowance (TRA) benefit if it is determined that cheap Chinese steel imports have directly resulted in job losses.
- Federal Trade Readjustment Allowance is a form of income support payments made to individuals who have exhausted unemployment compensation and whose jobs were directly affected by foreign imports.
- Federal Trade Readjustment Allowance (TRA) benefits include paid training for a new job, financial help in making a job search in other areas, or relocation to an area where jobs are more plentiful.
Meaning of Federal trade readjustment allowance & Federal trade readjustment allowance Definition