It's no secret that many people who are out of work are currently receiving more money from #unemployment benefits than they did working. Some economists estimate that over 66% of people on unemployment are making more now than they did at work. This bump in pay is primarily due to Federal Pandemic Unemployment Compensation (FPUC), which gives workers an extra $600 per week on top of the unemployment benefit they’d typically receive.
So why not just stay home and collect more money, reduce your potential exposure to #Coronavirus, and wait it out? While this may sound tempting, postponing a job search may not be that great of a strategy when it comes to finding a job.
The extra $600 per week that you may have been receiving in FPUC on top of the usual unemployment benefit will end on July 31, 2020. Each state has its own method for calculating it’s normal (non-pandemic) unemployment benefits, but the average unemployment payment across the U.S. is approximately 50% of your former pay. The unemployment insurance program was not designed to replace your income. Unemployment insurance partially replaces the wages you lost while you take the time to find another job.
So starting August 1st, you can expect your unemployment benefits to shrink significantly.
There are record numbers of people, over 43 million, who have filed for unemployment since March 2020, which from a job-search perspective, means that the competition for jobs just got a lot tougher. To give yourself an edge, here are a couple of options you can act on now:
The early bird gets the worm
“Employers like when candidates show that they’re informed because it helps the company save valuable time throughout the hiring process” - Ruth Umoh, CNBC
If you look hard enough, you just might be able to see a silver lining during this pandemic.
Yes, jobs are tougher to come by with closures and new restrictions, but the good news is that there are jobs available. Grocery store work, delivery drivers, and caretakers, are all roles that are hiring. There are also new job types, like contact tracers that are hiring across the country.
If remote work is something you are considering, employers are now looking at work from home (WFH) in a new light. Remote work is a good way to reduce the spread of COVID-19, cut down company expenses, and keep employees happy. This means that employers may be more open to the possibility of working from home, and in some cases shifting positions entirely to remote work. WFH jobs in customer service, data entry, and much more are available right here - learn how to search for these opportunities in this 15 second video
Not totally sure where to start? Even a small step is a good step. Take a look at the Getting Hired Resource Center to learn more.
Share your perspective in the comments below.