Unemployment Benefits Playlist – Everything You Need to Know
Does it pay more to be unemployed right now? For low to middle wage earners, the answer is YES.
In this video, Dr. Nitin Chhoda outlines the current state of unemployment benefits in the country, and explains THREE things related to your unemployment insurance claims:
1. The state will make the final interpretation
2. Depends on your job before the crisis started
3. Every situation is different
Roughly 40% of workers stand to make more money while unemployed than from their former jobs, according to one analysis of expanded benefits. This is especially true for lower-wage earners, who are concentrated in certain industries like retail, accommodation and food services.
We will also cover the ‘dark side’ of unemployment benefits. The real unemployment rate, which includes people who are not looking for work or are underemployed, already stands at 22.8%.
The Secretary of the Treasury Steven Mnuchin acknowledged that the jobless rate may be even higher and stand at 25%. “The reported numbers are probably going to get worse before they get better,” he said.
“This is no fault of American business, this is no fault of American workers, this is a result of a virus,” Mnuchin told Chris Wallace during an interview on “Fox News Sunday.” “The reported numbers are probably going to get worse before they get better,” he said, adding that “next year is going to be a great year.”
In just over a month, the pandemic has erased all job gains since the Great Recession, bringing the country’s decade-long economic growth to a screeching halt.
However, many unemployed people (who have had their applications successfully processed) are now reaping a financial benefit from their layoffs. Some could more than double their prior salaries. These variations are largely a function of a state’s wages and unemployment generosity.
Generally, the lower the wages and the greater the unemployment benefits in a state, the more it pays to be unemployed. (This does not account for the negative effects of long-term unemployment such as suppressed wages or benefits like health insurance that an employer may offer.)
In normal times, state unemployment benefits replace less than half of prior wages for out-of-work Americans. That’s meant to incentivize individuals to find a new job and provide financial support until they do. The $600-a-week booster from the Federal Government changes the dynamics of unemployment benefits
Note – just because a worker is unemployed doesn’t mean they will be necessarily be deemed eligible by a state. And workers in most states have had significant challenges filing applications for unemployment benefits and getting them processed amid record volume surges. Some have waited months without seeing a single payment, and are still waiting.
✅ ✅ ✅ Related Videos ✅ ✅ ✅
Stimulus Check Updates
Managing your Money
Click LIKE / SUBSCRIBE / SHARE to get future updates to boost your financial health.
✅ ✅ ✅ References ✅ ✅ ✅
LEAVE COMMENTS BELOW & PARTICIPATE IN OUR COMMUNITY! Click LIKE / SUBSCRIBE / SHARE so you get updates and breaking news alerts right away!
⚠️ ⚠️ ⚠️ ⚠️ LEGAL DISCLAIMER ⚠️ ⚠️ ⚠️ ⚠️
✅ The information on all videos of this channel is for entertainment purposes only and cannot be considered legal or professional advice.
⭕ None of the content in these videos can be considered tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other.
⭕ Neither the speaker nor his associates are accountants, attorneys, insurance brokers, independent contractors, money lenders or financial advisers.
⭕ It is the individual responsibility of every person to consult with qualified professionals including but not limited to a qualified CPA, attorney, insurance agent or financial adviser prior to making any and all decisions.
Xem thêm bài viết khác: https://engagemen-me.org/game/
Xem thêm Bài Viết:
- Tiết lộ bí kíp chơi game bắn cá tiên cực đỉnh cho các cao thủ
- Một số luật chơi game bắn cá chắc thắng cho anh em tân binh
- COMO INSTALAR MODS NO SEU MINECRAFT PE SEM BLOCK LAUNCHER 2020!!
- Tin nhanh 24h- Kiên Giang, tiệm game bắn cá kèm tàng trữ sử dụng trái phép ma túy
- Ca Sĩ Bí Ẩn Mùa 4 | Tập 3: Anh Tú bất ngờ gặp thần tượng giọng cao vút, Puka "bắt bài" MC Quyền Linh