Collecting unemployment while self-funding

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November 09, 2020

by a searcher from Indiana University at Bloomington in St. Louis, MO, USA

Is this possible? Does anyone have experience with this or know of reasons why it may not work?

Trying to do some personal budgeting, and wanted to know if unemployment was something I could count on.

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Reply by a searcher
from Harvard University in 1970 Walton Dr, Burlington, WA 98233, USA
I'd start by asking yourself the question, "would I want a selling business owner, a prospective lender, or a potential investor to know that I've been receiving unemployment assistance during my search?" and then just assume that every pertinent thing about your personal financial situation will ultimately come to light during due diligence.
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Reply by a searcher
from IESE Business School in Seattle, WA, USA
Hi Andrew,

It may be possible depending on your state requirements. Filing for unemployment will require you to answer the following questions truthfully on a weekly basis:

1. Did you or will you receive paid time off or sick, vacation or holiday pay?
2. Are you getting paid for any period after you last worked, such as severance pay, pay in lieu of notice, or termination pay?
3. Did you work for any employer(s), whether you have been paid yet or not?
4. Did you work in self-employment or casual labor, whether you have been paid yet or not?
5. Have you been or will you be paid for jury duty?
6. Did you apply for or receive workers' compensation for an on-the-job injury?
7. Other than Social Security, did you apply for or have a change in a retirement plan not previously reported?
8. Did you begin attending a school or training program?
9. Were you physically able and available for work each day of the week?
10. Did you complete at least three job search activities and keep a written record as required? If you didn’t complete at least three activities, you must answer No.
11. Did you refuse any offer of work? Did you fail to apply for a job that you were referred to by WorkSource?

Note that these questions may differ state by state, in particular the details around job search requirements. For us in Washington, the job search requirement is currently suspended as a result of the COVID-19 crisis.

You can find your state's details here: https://www.careeronestop.org/LocalHelp/UnemploymentBenefits/unemployment-benefits.aspx
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