Unemployment

Unemployment Explained?
1.    The Federal Government defines unemployment as the total number of people who are willing and able to work, yet without a job.

2.    For an individual to be considered ‘unemployed’ he or she must actively seek employment. As a result of this definition, the unemployment rate is a measure of the prevalence of unemployed people in a given area.
3.    The unemployment rate is calculated as a percentage; the rate is realized by dividing the number of unemployed individuals by the entire population currently in the labor force.
4.    In most instances, those individuals who are unemployed have the potential to seek aid through their particular local government in the form of unemployment compensation. That being said, the ability to collect unemployment compensation is contingent on a number of factors.
5.    The primary component when evaluating an individual’s ability to collect unemployment revolves around how the former employee lost his or her job. Those workers who were terminated for performance-based issues or gross misconduct are typically not eligible for unemployment benefits—this notion; however, is dependent on their state’s particular unemployment guidelines.
6.    The stipulations that govern unemployment benefits are governed by a particular state’s local government and their subsequent interpretation of employment law.
7.    In most instances, those who seek unemployment benefits were victims of mass-layoffs. Lay-offs typically arise as a result of a company’s failing business model, the obsolete status of a particular sector, or from the entity’s inability to secure a stable profit. 

How to Apply for Unemployment Benefits
1.    Unemployment compensation or benefits are available to workers who have been laid off or terminated through no fault of their own.
2.    Unemployment benefits, according to local governments, are insurance payments and are not classified as charity.
3.    Employers are required to pay a special tax to fund unemployment compensation programs. The tax is mandatory because the programs are considered a necessary function of a local government; the funds delivered through unemployment benefits enable individuals to maintain some form of stability.
4.    To file for unemployment benefits you must first apply for compensation (either in person or online with your local unemployment office) as soon as you get laid off or terminated.
5.    To begin the process, you must obtain all necessary information and documentation concerned with your employment.The date of employment, a pay stub, and the address and contact information of your former employer are required to initiate the compensation process.
6.     Following approval, you must prove to your unemployment office (typically every couple of months) that you are actively seeking employment. In addition, you should understand and observe your eligibility—the average time you are able to receive unemployment benefits is 26 weeks from the date you were terminated or laid off. During times of economic slowdown, these dates may extend to 52 week limits.
7.    To receive consistent unemployment payments (weekly or bi-weekly) you must file and re-file your claim in accordance with your particular state’s requirements. To satisfy these requirements  you must answer basic questions concerning your job search and report any earnings you may have received while collecting unemployment compensation.