| Unemployment insurance is a joint program | | | | calculated by your previous earnings. It is not |
| funded through both the federal government and | | | | based on your needs. Different states apply |
| the states. If you have ever been fired from a | | | | different formulas but your unemployment |
| job you are likely eligible for unemployment | | | | insurance will be in line with your previous income. |
| insurance. The amount you can claim and the | | | | There are some disadvantages to unemployment |
| amount of time you can claim varies depending | | | | insurance. Sometimes you have to make a |
| on the state you live in. Unemployment insurance | | | | judgment decision on accepting a new job. You |
| or compensation is designed to help workers who | | | | can accept a new job for less money. As soon as |
| become employed continue to meet their financial | | | | you accept the new job your unemployment |
| obligations until they find another job. | | | | benefits stop. However, if you do not accept the |
| The advantages to having unemployment | | | | new job you will be putting yourself at risk. |
| insurance is to help unemployed workers meet | | | | Unemployment can only be claimed for a limited |
| their financial obligations and to help sustain local | | | | period of time. Depending on where you live it |
| communities. If a larger portion of a workforce is | | | | could be 6 months to a year. So as you can see |
| laid off or fired small towns and communities | | | | you could be risking a future income. |
| suffer also. Not only does regular wages pay bills | | | | With the help of state and federal funding you are |
| and mortgages they also purchase goods and | | | | likely entitled to unemployment insurance |
| services. When wages paid to the workforce | | | | compensation if you have been laid off or fired |
| suddenly stop the local economy can suffer. You | | | | from a job. Unemployed workers can receive |
| are allowed to spend the money from | | | | payment until they find another job. This not only |
| unemployment insurance on what you choose. | | | | helps the unemployed but also the local |
| There are no rules forcing you to pay your | | | | community. Check into the unemployment |
| essentials first. This helps some of the money to | | | | compensation laws in your area if you have been |
| reach the local economy. | | | | let go from a job. You may be entitled to a large |
| Unemployment insurance or compensation is | | | | amount of economic relief. |