Unemployment Compensation

Finance Allah Shmoop What are unemployment benefits Well a century

ago and you lost your job This is what happened

to you then this and then this Well the government

decided that America was better than this and that there

should be a shock absorber in the personal economies of

individuals when they were fired And yes sometimes employees did

such a lousy job at work They deserve to get

fired But other times cos downsized into higher divisions so

employees who are at no fault of their own were

fired And other times injuries illness and other factors played

a role in turning this guy into this guy So

the U S Government created an unemployment benefit system that

filtered through out the country And it was a kind

of buffer when an employee went from earning a grand

a week Teo nothing Unemployment benefits comprise a few things

Well first there's the money And in order for there

to be money in the till somewhere too Hey for

that unemployment benefit system the US introduced attacks that basically

socks away money for the future with certainty that well

at some point a whole lot of people will be

unemployed and appreciate the buffer It's a fair question to

ask What about the people who were planners plotters preparers

for a rainy day But why do you tax those

people so that they then pay for workers who got

fired and weren't disciplined enough to save their own damn

money Well it's kind of the price you pay for

being a superpower So yeah the US does have freeloaders

criminals leeches on the system lazy people and bad workers

But we have so many more of the good egg

kind of people that we can at least as faras

today goes afford TTO have a generous unemployment system So

how does one actually qualify for unemployment benefits Well usually

you have to have lived in your state for at

least a year before collecting them and typically you have

to show that you're continually actively seeking employment and not

just binging Handmaid's tale on your sofa And often you

have to show that you were laid off through no

fault of your own Like if you were fired from

RVs for throwing four pounds of roast beef at the

head of a customer No you'll probably need to look

into you know Plan B i e soliciting your family

for alone instead of hoping unemployment covers Yeah And well

don't expect the benefits to allow you to continue your

existing quality of life Generally even if you do qualify

for benefits well you'll get about a third or after

our last of your old salary So you're less likely

to end up on easy street with unemployment benefits than 00:02:29.25 --> [endTime] you are to end up on the streets