Over the weekend I heard on TV that some people who lost their jobs are making more on unemployment benefit than their previous wages. Is it possible, and if yes, what incentive would they ever have to get employed again?
Maybe because: 1) For many (particularly men), employment provides meaning, status, and a sense of self-worth. 2) Unemployment benefits eventually run out. I’m not sure how you get more on unemployment than you did at your previous job. Perhaps there is a minimum unemployment amount, and their previous job paid so little that 50% of that salary is below the minimum.
Mr. Limbaugh started that chain. It is simply not true, as an example, Max unemployment benefit is $450/week, and it stops after 26 weeks and in some cases 33 weeks. To qualify for maximum unemployment, you should have earned $46K. So to summarize, if you earned $46K a year, you will receive $11K max unemployment. So tell me how unemployment is better than working?
cfa_mba Wrote: ------------------------------------------------------- > Mr. Limbaugh started that chain. > Limbaug had is facts wrong? Did he not do his due dilligence before speaking? I can’t believe it!
Not true. In Michigan unemployment is a percentage of pay up to a max of $387.10 per week. That includes a raise of $25 per week as part of the federal stimulus package, i.e. max pay was $362.10 per week as of last week. Tons of unemployed in Michigan whom were making $60-65k a year-now make $20129.20 including the new stimulus rate. And they have to pay their own health insurance out of that too…
yes very impossible. canada is pretty sweet. benefits are 55% of your salary up to 23k or something. not bad considering not much of that is taxed and you could live off nothing with all that time.
So many jobs are contract and 1099-based jobs these days that plenty of people don’t get unemployment even if they are in all other ways unemployed. That doesn’t mean they don’t pay taxes to cover unemployment insurance without getting any benefits. It sucks immensely. I was in that boat for a while. I am fine with paying taxes for unemployment insurance, but it was really an eye-opener to realize that I wasn’t qualified to get any.
The Limbaugh factoid was: Unemployment benefits increased by $25/wk Those actually working received a $13/wk tax benefit $25>$13
My friend gets 600 a week from unemployment in MA. A temp agency found him a job @ 15 bux an hour. 15 x 8hrs x 5 days = 600 a week!
When I got unemployment after my first job I made more on unemployment since commuting cost me $400 a month (tolls, etc).
Parking/Transit , Lunches, Coffee , Drycleaning Parking/Transit ( sometimes I dfrive to a transit parking or I drive down/Gas - $250 month Lunches -$200 month Coffee -$75 month Drycleaning -$100 Month =$625 a month Wait a sec !!! WOW i’m glad I posted on this email, now I know why its freaking so hard to save! Combine the above with Gym $50, Internet $40, Cell Phone $60 = $775 / Month !!! Car Payment $350, Insurance $150 = $1275 !!! This stuff adds up big-time !
Do you guys know if you’re eligible for unemployment benefits if your company gave you a severance package? BTW, I think Illinois caps their max unemployment benefits at $385/week for individuals. $600 is a lot in MA…
My next job will be in MA… $600 seems high…but it is taxachusetts.
l2djae Wrote: ------------------------------------------------------- > Do you guys know if you’re eligible for > unemployment benefits if your company gave you a > severance package? > > BTW, I think Illinois caps their max unemployment > benefits at $385/week for individuals. $600 is a > lot in MA… if you receive severence for lets say 10 weeks and your total eligible unemployment benefit period is 30 weeks, you will receive 10 weeks severence then be qualified to receive 20 weeks unemployment.
MattLikesAnalysis Wrote: ------------------------------------------------------- > if you receive severence for lets say 10 weeks and > your total eligible unemployment benefit period is > 30 weeks, you will receive 10 weeks severence then > be qualified to receive 20 weeks unemployment. Ok, good to know. Thanks!
Can you get unemployment if you graduate and don’t have a job, or do you have to be fired first?
Soda Popinski Wrote: ------------------------------------------------------- > Can you get unemployment if you graduate and don’t > have a job, or do you have to be fired first? hehe. nope, it aint that easy. you need at least 6-9 months work in a full-time position depending on your employment ‘zone’ and you have to be laid off. if you’re fired for cause, then you do not have access to unemployment.
damn dude you eat $10 dollar lunches? I brown bag it every single day and it costs a quarter of that. IH8FSA Wrote: ------------------------------------------------------- > Parking/Transit , Lunches, Coffee , Drycleaning > > Parking/Transit ( sometimes I dfrive to a transit > parking or I drive down/Gas - $250 month > Lunches -$200 month > Coffee -$75 month > Drycleaning -$100 Month > > =$625 a month > > > Wait a sec !!! WOW i’m glad I posted on > this email, now I know why its freaking so hard to > save! > > Combine the above with Gym $50, Internet $40, Cell > Phone $60 > > = $775 / Month !!! > > Car Payment $350, Insurance $150 > > = $1275 !!! > > > This stuff adds up big-time !
a buddy of mine made more w/ unemployment than he did while working. he was ~1 year out of undergrad, working in advertising in Philly, with salary about 25-30k before he got laid off. i don’t know the math but he repeatedly mentioned that his unemployment checks were greater than his previous salary checks.
BiPolarBoyBoston Wrote: ------------------------------------------------------- > damn dude you eat $10 dollar lunches? I brown bag > it every single day and it costs a quarter of > that. > > IH8FSA Wrote: > -------------------------------------------------- > ----- > > Parking/Transit , Lunches, Coffee , Drycleaning > > > > > Parking/Transit ( sometimes I dfrive to a > transit > > parking or I drive down/Gas - $250 month > > Lunches -$200 month > > Coffee -$75 month > > Drycleaning -$100 Month > > > > =$625 a month > > > > > > Wait a sec !!! WOW i’m glad I posted > on > > this email, now I know why its freaking so hard > to > > save! > > > > Combine the above with Gym $50, Internet $40, > Cell > > Phone $60 > > > > = $775 / Month !!! > > > > Car Payment $350, Insurance $150 > > > > = $1275 !!! > > > > > > This stuff adds up big-time ! I use to eat $10 lunches b/c that is right about what you get for a decent lunch here in Fidi. My mom sent me a care packadge a few weeks ago full of just random good stuff =). Interestingly, its cheaper for her to send me non-perishable items (cereal for example) than for me to go buy it in Manhattan. Thats including shipping costs. So now I pay next to nothing for breakfast and lunch, and sometimes dinner. Sure not the best meal(s), but I know what to expect and am not dissappointed.