Unemployment And Corona Virus: The Ups And Downs

At the start of the year 2020, the corona virus which started spreading initially in China, spread like wild fire all around the globe. It infected people right and left, but that was not the worst of it. Many lost their lives while some were in critical condition. There were some who recovered as well, but the corona virus did more than just affect people’s health. It took a great toll on the economy, not just of one country, but there was a downfall experienced all over the world as almost all the businesses were shut down and suffered some serious setbacks. After a while though, the government came up with some standard operating procedures and some businesses were permitted to operate once again. But due to the huge financial loss that the businesses suffered, they started laying off employees and the unemployment rate increased dramatically. While there were major downsides to unemployment due to the corona virus, in some ways, it also brought some up sides with it as well.

Since there were a lot of people who were laid off through no fault of their own, the government in turn took action and started providing unemployed civilians with insurance money as unemployment and coronavirus both started increasing. Many unemployment insurance and support programs were launched to provide aid. These insurances were only valid for those who were laid off because of the corona virus, it did not apply to the people who were fired for other reasons.

The unemployment insurance covers your previous salary. They will ask you how much you were earning in the past four months or so and then average it out to provide you with a check. They will not care about how much you need, rather they will care about how much you earned.