Losing your job is a serious blow, with costs on a professional and personal level. But if you face this situation, in the United States you have the right to unemployment insurance that cushions the economic impact that the unemployment period implies. How much money can you receive? We explain you how to calculate online the amount for unemployment insurance.
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Unemployment insurance translates into a benefit for up to a maximum of 26 weeks. The amount of the federal contribution will vary according to your average quarterly income, although it can generally be between $ 40 and $ 450 per week.
Requirements to access the benefit
The first thing you should consider is that each state has its selection criteria for the unemployment benefit or insurance, but generally your application will be accepted if you meet these conditions:
- Being unemployed for reasons beyond your control: This implies having been terminated because your functions are no longer necessary, and not because you have resigned or committed an infraction in your work.
- Comply with labor and salary requirements: have earned income or worked during a “base period”. Usually this is the first four of the last five quarters before you apply.
- State requirements: have earned minimum income to be eligible. Generally, the minimum amount varies between $ 1,000 and $ 5,000, which also affects the rate of people who receive the benefit.
If you are eligible for unemployment benefit, you will generally receive a weekly benefit equal to 50 percent of your salary up to the maximum established at the state level.
The formula for calculating the benefit amount also changes from state to state, although there are some common criteria.
The first thing is to know your base year. To do this, you must consider the first four of the last five calendar quarters completed before the week in which you request the benefit. That is, if you claim the benefit on December 2, 2021, the base year would include the wages earned between October 1, 2020 and September 30, 2021.
Regardless of what state you live in, you must also add up the total wages for each of the four quarters. In this regard, most states prefer to be guided by the quarter with the highest income, although a good proportion average between the two best quarters.
When you have the amount for the quarter (highest or average among the highest earners), you must divide between 20, 26 or 30 weeks, depending on your status. The result you get is the amount of benefit you will receive each week.
For example, the chosen quarter — or the average of the highest-earning quarters — was $ 8,700. If you divide it by 26, you will have an amount of $ 334, which corresponds to the approximate amount of the insurance.
Since the final amount will depend on the specific criteria that each state applies, it is best to perform an online calculation. There are numerous federal sites that do this work for you. You just have to enter your income data and wait for the platform to give you a result.
One of the most practical sites is File Unemployment, which allows estimations for each of the United States territories, considering the complementary compensation in case you have children in your care.
Either way, if you want to do it directly in the state in which you reside, these are the state calculators available on the internet.