Any of you collecting unemployment?

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Any of you collecting unemployment?

Postby Cu Penny Hoarder » Fri Sep 25, 2020 2:55 pm

If you are, please let me know if any of you have the same experience...

I was laid off from my part time job in later part of 2018 and collected maximum UC for 6 months. The owner didn't know it, but I was just about to retire anyway... it was weird timing, but it's free money so what the heck. I received an email from UC in April and they told me I should apply for PEUC (Pandemic Emergency Unemployment Comp), I applied and 8 weeks later my approval letter arrives... so I received another 13 weeks max UC plus an extra $600 on top of that. That ran out, then I find out I'm qualified for EB (extended benefits), which is another 13 weeks of full UC.

These ppl in government are freakin crazy. :o

I hope PMs drops some more because I'm turning 80% of this worthless paper into something much more tangible. :D 8-) :thumbup: :P :shh:
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Re: Any of you collecting unemployment?

Postby coindood » Fri Sep 25, 2020 8:45 pm

That's infuriating.

While I'm lucky enough to have kept my job, a longtime close friend had her hours cut to 24 per week back in March. When she applied for partial UI our state told her she made $60 more than the maximum amount allowed to collect. Six months into this and with no word on when she'll be back to full time, she's hanging in there, just barely. Her family is helping but her savings are dwindling, and I'm trying to find a delicate way of offering help myself, but I know she'd absolutely refuse on principle. Though my fear is she'll say yes, then I'll know just how bad off she truly is.

I don't begrudge what you're collecting Cu, but the safety net has large holes in it. Best of luck in your retirement.
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Re: Any of you collecting unemployment?

Postby TXSTARFIRE » Fri Sep 25, 2020 10:51 pm

I don't think that unemployment is free money. The way I understand it your employer had to pay money in for unemployment insurance. That is money that could have been paid to you in the form of a larger wage if your employer was not forced to pay unemployment insurance. So you could look at it like your getting some of your money back. Does that make sense?
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Re: Any of you collecting unemployment?

Postby Recyclersteve » Sat Sep 26, 2020 1:00 am

Too many people think that the government can just continue to pay everyone unemployment without consequences. I’m early retirement age, but deliver for Amazon and UberEats to make ends meet. That said, I don’t owe money to anyone so I’m not broke. I’d rather see the unemployment go to someone who desperately needs it. I’ve been eligible for unemployment at least twice, but wouldn’t even file for it. Our country has too much debt already. I don’t want to be guilty of “piling on.”
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

Please note that ANY stocks I discuss, no matter how compelling, carry risk- sometimes substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) as well.
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Re: Any of you collecting unemployment?

Postby Cu Penny Hoarder » Sat Sep 26, 2020 7:28 pm

TXSTARFIRE wrote:I don't think that unemployment is free money. The way I understand it your employer had to pay money in for unemployment insurance. That is money that could have been paid to you in the form of a larger wage if your employer was not forced to pay unemployment insurance. So you could look at it like your getting some of your money back. Does that make sense?


I was paid pretty well for only working 3 days a week. The company downsized and laid a few others off too. I'm receiving the max level of UC allowed by the state.

I know the money is not free, but I was not expecting to get ANY UC at all since the last day I worked was in Sept 2018. The Department of Labor emailed me about applying, which I thought was bizarre.
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Re: Any of you collecting unemployment?

Postby Cu Penny Hoarder » Sat Sep 26, 2020 7:32 pm

Recyclersteve wrote:Too many people think that the government can just continue to pay everyone unemployment without consequences. I’m early retirement age, but deliver for Amazon and UberEats to make ends meet. That said, I don’t owe money to anyone so I’m not broke. I’d rather see the unemployment go to someone who desperately needs it. I’ve been eligible for unemployment at least twice, but wouldn’t even file for it. Our country has too much debt already. I don’t want to be guilty of “piling on.”


How I was qualified for all this extra UC I have no idea. I was never expecting to receive pandemic UC.
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Re: Any of you collecting unemployment?

Postby Cu Penny Hoarder » Sat Sep 26, 2020 7:36 pm

coindood wrote:That's infuriating.

While I'm lucky enough to have kept my job, a longtime close friend had her hours cut to 24 per week back in March. When she applied for partial UI our state told her she made $60 more than the maximum amount allowed to collect. Six months into this and with no word on when she'll be back to full time, she's hanging in there, just barely. Her family is helping but her savings are dwindling, and I'm trying to find a delicate way of offering help myself, but I know she'd absolutely refuse on principle. Though my fear is she'll say yes, then I'll know just how bad off she truly is.

I don't begrudge what you're collecting Cu, but the safety net has large holes in it. Best of luck in your retirement.


I agree. I've been giving a portion of what I am collecting to a local homeless shelter.
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Re: Any of you collecting unemployment?

Postby hobo finds » Sat Sep 26, 2020 7:38 pm

Recyclersteve wrote:Too many people think that the government can just continue to pay everyone unemployment without consequences. I’m early retirement age, but deliver for Amazon and UberEats to make ends meet. That said, I don’t owe money to anyone so I’m not broke. I’d rather see the unemployment go to someone who desperately needs it. I’ve been eligible for unemployment at least twice, but wouldn’t even file for it. Our country has too much debt already. I don’t want to be guilty of “piling on.”


Millions of people are out of work that have never had to file for unemployment... these jobs will not come back for some time, hotel, bar and restaurants. Recycler Steve I amsure you did not take the unemployment but have plenty of Marriott stock which is doing well even though laying off 10's of thousands if not more....
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Re: Any of you collecting unemployment?

Postby Recyclersteve » Sun Sep 27, 2020 12:01 pm

I don’t own any hotel stocks right now and haven’t for at least several years.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

Please note that ANY stocks I discuss, no matter how compelling, carry risk- sometimes substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) as well.
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