They say money makes the world go round. For most people, you must have a steady job to make ends meet. What happens if you find yourself out of work? With fixed expenses, it does not take long to run through your savings account. If you fall into this unfortunate situation, it may be time to research unemployment benefits to get you through your job transition.
Who Is Eligible?
Eligibility details vary by state. However, there are two overarching qualifications you must have. The first qualifier is that you lost your job at no fault of your own. If you were terminated or elected to quit without cause, you will not be eligible. The second qualifier is that you previously worked enough hours or earned enough money before losing your job. New York and other states each have different thresholds. Unfortunately, contract work will not count towards the threshold because contract employers do not contribute to unemployment taxes.
How Do You Maintain Unemployment?
There are certain rules you must follow while receiving unemployment benefits. You must regularly report updates on your job search. The unemployment office will need to know where you’ve applied, where you interviewed, and where you’ve been offered work. When you are offered an appropriate job, you will be required to accept it. If you receive any payment from part-time work, it must be disclosed. There may even be a minimum number of places you are required to apply per week. Some states require applicants to attend in-person meetings and training sessions at an unemployment office. Failing to meet any unemployment requirement can result in your benefits being revoked.
How Much Will You Receive?
Every state has a different calculation for benefits. What you are paid will depend on what your previous income was. Your state will use a predetermined fraction to calculate your earnings. For example, in Indiana, your unemployment check will be 47% of your previous weekly pay. However, that amount must fall between your state’s minimum and the maximum amount they will pay. Most states will offer full benefits for 26 weeks. If you are only using partial benefits, you may remain eligible longer. Those that have worked in multiple states can compare benefits to maximize their earnings.
Unemployment benefits are a helpful way to bridge the gap between jobs. As long as you meet the eligibility requirements and actively follow guidelines, you can receive enough money to get by. Help yourself relieve some stress and apply today.