Question

Even though the united states has an unemployment compensation program that provides income for those out of work, should we still worry about unemployment?

Answer 1

Yes, as the unemployment compensation scheme only provides the unemployed with enough money to meet their basic necessities.

Payments provided to unemployed persons by authorised authorities are known as unemployment benefits, sometimes known as unemployment insurance, unemployment payment, unemployment compensation. Benefits are paid for in the US through a mandatory government insurance programme, not through individual citizen taxes. Those amounts may be little, merely covering the most basic requirements, or they could make up for the lost time proportionate to the prior earned wage, depending on the jurisdiction and the individual.

Only individuals who register as becoming unemployed due to no fault of their own are often eligible for unemployment benefits, and frequently only on the condition that they actively seek employment.

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