Jesse T. emails:
This is my own personal anecdote regarding the unemployment situation. I was laid off in April due to the Covid lockdowns. My base salary was $30,000 a year. My normal unemployment payment would be $345 a week, but with the additional $600 it comes to $945 a week before tax. Annualized that comes to $49,140 a year, or 64% more than I was making at my job.
I am looking for work daily, and I am aware of the damage these unemployment payments are doing to the economy, but I still can personally testify to the difficulty in motivating oneself to find work when you are being paid significantly more to sit at home.
For a bit of added context, I am in my mid 30's with no college degree, and have been part of the workforce since graduating from high school. I have never taken unemployment before this current situation and have always been able to find work in the past.
-RW
Good luck finding a job...
ReplyDeleteChances are significant that you may not be able to find a job and then what will you do when all the unemployment payments stop within 9 months?
Save any extra you can for if you can't find a job you will need it.
A lot of jobs have been wiped out.
A lot of people get kicked off of unemployment after not being able to find work for 9 months.
I sympathize with your desire to avoid taking unemployment benefits. Have you considered starting your own small biz?
ReplyDeleteNow that you've got time on your hands, you should learn a trade, ie electrical, carpenter, plumber. These will be in high demand with housing so tight.
ReplyDeleteIt is a good time to start a business as the SBA is begging people to take its 3.7% low interest loans for capital needs.
ReplyDeleteYou have to admit the big move to socialism has been wildly successful.
ReplyDelete