The topic discussed at last month's OKC Metro Employer Council was all about the newest legislation related to unemployment. Statistics, the appeals process, and what is considered "misconduct" were all explored.
I love learning, but the dimly lit room, a speaker with a very calm voice, and a morning meeting, equaled a few moments of unexpected sleepiness.
What DID wake me up was the discussion I had with one of the directors AFTER the meeting. I asked him to help me understand a question I've had for a long time: "Why is it that so many people believe working temporary while receiving unemployment is a bad thing?"
Now, it IS a fact that all wages earned while on unemployment must be reported when filing your weekly claim. And that income DOES affect your benefit amount for that week. What is not discussed is that the working temporary will actually extend the length of time of your unemployment benefit.
"Really?" you ask. "Yes!" I say.
Here's how it works:
Let's say you are receiving unemployment and your weekly benefit is $440 per week. You take a temporary position making $12/hour for 40 hours while you are on unemployment, from TRC Staffing Services of course. Your gross amount for that week of temp work would be $480. You must report this income. What no one tells the average citizen is that the first $100 you earn is yours to keep. It is not deducted from your unemployment. You would report the $480, but only the money after the first $100 is deducted from your weekly benefit.
$440 weekly benefit -$380 money earned that week after the first $100 =$60
Your payment from the unemployment office would be $60 instead of $440. BUT, your overall earning for that week would be $540 because, in addition to the $60, you also have the $480 you earned while working temp.
At first glance, someone would think, why would I WORK for only $60 more for that week? But the money in your pocket (in the above example) is actually $100 more than you would have had if you hadn't gone to work that week. SCORE!
Plus, (this is the really important part) when you report your income, you have another week of unemployment on the back end. If you started with 26 weeks of unemployment, you now have 27 weeks. The money does not go away. ANOTHER SCORE!
Remember, many times temporary positions evolve into permanent ones. Getting out and meeting new business contacts is a plus, as well. You may not agree, but I believe getting of the house, earning money, and meeting new people is good for the soul AND the wallet.
TRIPLE SCORE!
So the obvious takeaway is WORKING TEMP WHILE RECEIVING UNEMPLOYMENT IS A GOOD THING! Spread the word!
I love learning, but the dimly lit room, a speaker with a very calm voice, and a morning meeting, equaled a few moments of unexpected sleepiness.
What DID wake me up was the discussion I had with one of the directors AFTER the meeting. I asked him to help me understand a question I've had for a long time: "Why is it that so many people believe working temporary while receiving unemployment is a bad thing?"
Now, it IS a fact that all wages earned while on unemployment must be reported when filing your weekly claim. And that income DOES affect your benefit amount for that week. What is not discussed is that the working temporary will actually extend the length of time of your unemployment benefit.
"Really?" you ask. "Yes!" I say.
Here's how it works:
Let's say you are receiving unemployment and your weekly benefit is $440 per week. You take a temporary position making $12/hour for 40 hours while you are on unemployment, from TRC Staffing Services of course. Your gross amount for that week of temp work would be $480. You must report this income. What no one tells the average citizen is that the first $100 you earn is yours to keep. It is not deducted from your unemployment. You would report the $480, but only the money after the first $100 is deducted from your weekly benefit.
$440 weekly benefit -$380 money earned that week after the first $100 =$60
Your payment from the unemployment office would be $60 instead of $440. BUT, your overall earning for that week would be $540 because, in addition to the $60, you also have the $480 you earned while working temp.
At first glance, someone would think, why would I WORK for only $60 more for that week? But the money in your pocket (in the above example) is actually $100 more than you would have had if you hadn't gone to work that week. SCORE!
Plus, (this is the really important part) when you report your income, you have another week of unemployment on the back end. If you started with 26 weeks of unemployment, you now have 27 weeks. The money does not go away. ANOTHER SCORE!
Remember, many times temporary positions evolve into permanent ones. Getting out and meeting new business contacts is a plus, as well. You may not agree, but I believe getting of the house, earning money, and meeting new people is good for the soul AND the wallet.
TRIPLE SCORE!
So the obvious takeaway is WORKING TEMP WHILE RECEIVING UNEMPLOYMENT IS A GOOD THING! Spread the word!