Obama unveils wage insurance plan to spur job seekers

U.S. President Barack Obama waves as he walks from the Oval Office of the White House in WashingtonU.S. President Barack Obama on Saturday laid out a plan to help support the income of workers who lose their jobs and end up in lower paying positions, as part of a push to get unemployed Americans back to work. The proposal would offer experienced workers who now make less than $50,000 a form of wage insurance, allowing them to replace half of their lost pay. The wage insurance proposal will be included in a broader effort to overhaul the unemployment insurance system.

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