Categories: Job Fulfillment

7 Important Pros & Cons Of Unemployment Insurance

The 7 important pros and cons of unemployment insurance are as follows

Pros:

  • More Free Time. When you have no job, you are a lot of free time to discover and explore your interests, passions and find out various career strategies.
    It keeps low-income households out of poverty.
  • Improving Credentials. It gives you a chance to achieve higher qualifications. You can develop new skill sets by completing a much-needed degree.
  • The people who have been qualified as unemployed, receive money payments or wage supplements to survive and to search for new jobs.
  • It works towards stabilizing the economy by ensuring that the unemployed people have enough abilities to spend on goods and services.
  • It provides some support to the workers during recessions.
  • Unemployment insurance motivates the workers to get a job in the sector that is important to the economy.

    Cons:

  • Jobs often come with healthcare benefits but being unemployed faces a downfall in this benefit.
  • Although they receive to pay for being unemployed, it is comparatively less than an earned income.
  • When you are searching for new jobs, an unemployment gap can create a bump and cause suspicion of your working style.
  • The unemployment insurance which is financed by payroll taxes has a tendency to raise layoffs in some companies.
  • Unemployed workers will find a way to stall their job search and would prefer to stay unemployed.
    Keep reading SuccessYeti.com

Also Read: Lionel Messi Shows Us The Simple Art Of Not Giving Up As He Wins An International Trophy After Losing 4 Finals

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