1. File for Unemployment Compensation
Each state has a government agency that administers unemployment compensation, so the rules for filing for unemployment compensation vary from state to state. However, to be eligible for unemployment compensation you generally must meet two requirements:
- You lost your job through no fault of your own, i.e. you didn’t resign or commit some act or omission of misconduct to warrant your termination; and
- You must have worked for a "base period" of time, e.g. one-year prior to losing your job (Each state sets different "base periods")
If you meet these two general rules, you likely can file for unemployment compensation.
So, how much can you expect to receive? Well, the payment level you can expect to receive depends on how much income you earned, up to a certain state limit. In general, you can expect to receive around $300.00/month for approximately 46 weeks. Additionally, if you live in a state with a high level of unemployment, e.g. 6% or more, you may be eligible to receive up to 59 weeks of unemployment compensation.
Next, we’ll go over some tips on how to cut your expenses.