Staying unemployed could advance your career. here’s how
Most of the time, unemployed workers end up with much less money than they would normally earn in a job. This is because state-level benefits are designed to replace only a portion of workers’ paychecks, and they often have a maximum payout that can, in some cases, leave the unemployed with a serious income gap. .
But now many unemployed people are making more money receiving these benefits than they did in their old job or they would in a new job. The reason? There is a weekly $ 300 boost to these benefits that is still in place in 24 states. And if you still collect that boost, it might be worth staying unemployed until early September when it is expected to expire.
Why staying unemployed could help your career
It may seem counterintuitive that staying unemployed longer is a good idea. After all, the more time you spend without a job, the bigger the gap on your resume – and that alone could make it harder to get a new job.
On the other hand, at the moment earning more money on unemployment creates several opportunities. Firstly, it can mean that you can inflate your savings so that you have cash on hand in the blink of an eye. Second, it can give you the opportunity to take classes or attend workshops that help you develop new skills. And these could open the door to better paying employment options once you decide to re-enter the workforce.
Suppose you work in retail and don’t like interacting with customers, but think you are not qualified for a management role. Staying unemployed until early September could allow you to take a two-month course in inventory management and accounting, positioning you for a better job in your field.
On a related note, if you weren’t happy with your last job, staying on increased unemployment could take some of the pressure off, giving you time to research different career paths and determine which role is right for you. the best.
How long do you have to stay unemployed?
The $ 300 weekly upgrade expires on Labor Day, so you might want to start looking for a job in August. If you get the ball rolling then, you can find a job that starts right when the boost runs out.
Of course, if you are offered a good job sooner than that, it might pay off to take it – especially if the wages are higher than what unemployment pays. But if you are offered a lower paying job in early July and you don’t want or think it will advance your career, you might find it beneficial to decline, continue to collect unemployment, and continue your research.
One note: in some states you may lose unemployment benefits if you turn down a suitable job, so check your state’s rules so you know what you’re dealing with.
While some critics have said that rising unemployment deters the unemployed from returning to work, it may also allow some people to prepare for more stable and lucrative careers. And if this is the boat you find yourself in, there is nothing wrong with falling back on enhanced benefits while you work for a stable job that serves you well.
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