Downsized and wondering how to apply for unemployment?
Posted by Diana Needham on Wednesday, March 25th, 2009
Feeling baffled and confused about unemployment benefits?
Been downsized and believe you are likely eligible for assistance?
Not sure where to start to get information and your questions answered?
You are not alone. Nearly all of my clients and colleagues in this situation are uncertain what to do. Since we have been in the working world for so many years, this may be the very first time we have ever needed to consider unemployment benefits as an option.
Some of us may hesitate to check into this because it feels like a “handout” and we have never taken anything from the government in our entire lives. Remember it is not your fault that you are in this employment situation! Likely many business situations occurred that lead to your being in this place at this time, and most (if not all ) of them were out of your control.
Some key things to know
-
Unemployment insurance was established by the government to provide unemployment benefits to workers who become unemployed due to factors outside their control. It provides financial assistance while you are looking for employment.
-
It is a joint federal-state program, with money coming from the federal and state governments but the administration coming from the state. Eligibility, as well as benefits received, are determined by the state in which you live.
-
Unemployment benefits are taxable. You are responsible to pay taxes on the income earned come the next tax year, so factor this into your budget.
-
It will take a few weeks after submitting all the required materials to receive your first unemployment check.
-
You will need to complete a questionnaire each week or every other week to prove that you are, in fact, looking for a job.
-
The current stimulus plan may affect the benefits, so watch for news on this topic.
How to get started?
-
First contact your state’s unemployment agency to apply. Due to the increase in job eliminations, there are more people applying, so there may be a backlog in your local office. If your state allows you to apply online, use this process, since it will likely be quicker.
-
After your application is submitted, many states will verify your unemployment in some way (a short phone interview, an in person interview with an unemployment officer, or further verification via mail). Once all has been verified, your benefits will be calculated. Generally benefits are calculated based on your past salary and will have a cap, depending on your state.
Last week a very insightful article was published on this topic. The article includes links to the various state resources. Click here to read the full write up.
Feeling all alone in this and wondering what to do next? Email me with any questions or call me at 1-843-654-4397 to discuss your individual situation. I am here to help you move forward.
Filed in Career, Lifestyle, Managing Money | No responses yet
