NC S848

Increases maximum weekly unemployment insurance benefit from $350 to $500, adjusted annually for inflation based on the Consumer Price Index, calculated using the highest paid quarter instead of last two quarters.

Extends maximum unemployment benefit duration to 26 weeks and reforms partial unemployment benefits by raising the wage threshold from 20% to one-half of the weekly benefit amount.

Expands good cause provisions for leaving employment to include spousal relocation, health reasons, and undue family hardship related to childcare or elder care needs.

Establishes a short-time compensation program allowing employers to reduce employee hours by 10-60% as an alternative to layoffs, with employees receiving prorated benefits while maintaining health and retirement coverage.

Suspends employer unemployment insurance contributions through December 31, 2023, and appropriates $100,000 to fund program implementation.