Emergency Unemployment Compensation Continuation Act - Amends the Supplemental Appropriations Act, 2008 with respect to the state-established individual emergency unemployment compensation account (EUCA). Extends the final date for entering a federal-state agreement under the Emergency Unemployment Compensation (EUC) program through February 28, 2011. Postpones the termination of the program until July 31, 2011.
Amends the Assistance for Unemployed Workers and Struggling Families Act to extend until March 1, 2011, requirements that federal payments to states cover 100% of EUC.
Amends the Unemployment Compensation Extension Act of 2008 to exempt weeks of unemployment between enactment of this Act and July 31, 2011, from the prohibition in the Federal-State Extended Unemployment Compensation Act of 1970 against federal matching payments to a state for the first week in an individual's eligibility period for which extended compensation or sharable regular compensation is paid if the state law provides for payment of regular compensation to an individual for his or her first week of otherwise compensable unemployment. (Thus allows temporary federal matching for the first week of extended benefits for states with no waiting period.)
Amends the Federal-State Extended Unemployment Compensation Act of 1970 to authorize a state by law to apply certain requirements of the Act, with specified substitutions, for determining an extended unemployment compensation period. Requires the state's "on" and "off" indicators to be based on its rate of insured unemployment and rate of total unemployment for the period between enactment of this Act (or, if later, the date established pursuant to state law), and ending on or before March 1, 2011.