The number of people in the United States who have filed for unemployment has now reached unprecedented heights. The figures also include self-employed people, who up until the COVID-19 pandemic, were not eligible for unemployment benefits. A survey found the majority of those who have lost their jobs believe their employer is only closed temporarily.
However, estimating the number of businesses who have closed permanently, or how long workers will remain unemployed, is difficult. When you come off of unemployment is a question you need to answer on a personal level. Everyone’s individual situation is different, but it’s our recommendation to at least begin your job search now. Here are five reasons to consider why looking for a job now maybe your best choice.
Unemployment Checks Don’t Last
Some people have been making more collecting unemployment than they did working. The CARES Act expanded benefits for people, including seasonal, part-time, and contract workers. One of the contingencies for filing for unemployment is the requirement you continue seeking a job.
If your employer offers you your job back, or you are offered suitable employment, this makes you ineligible for continued unemployment benefits. Looking for a new job before you’re offered your old job back puts you in a position of seeking out and finding a better position while still collecting unemployment. Additionally, the expanded benefits that have raised some people’s income will not be distributed for longer than 4 months.
Get Ahead of the Competition
As the economy begins to open and more businesses are looking for employees, there will be an overwhelming number of people looking for jobs. By starting early, you’ll get a jump on the competition and have a better opportunity to find a position that fits most closely with your skillset and your professional career goals. The unemployment rate is estimated to average at least 14% during the second quarter of 2020.
Loss of Employer-Sponsored Benefits
If you have been furloughed but still have access to your health care benefits, this ends if you’re offered your position back and you choose not to return. You may have access to COBRA, but it is expensive. Another option is to purchase healthcare through the marketplace, but this too can be expensive and potentially not as robust as the plan you currently have.
New Opportunities and New Skills
With the economic reopening, it’s likely a limited number of employees will be allowed to return to work. However, this also opens the door to new opportunities and an option for you to learn new skills. This could be a break into a new career you may not have otherwise tried or even considered. Everyone wants to feel like they have control over parts of their lives and working gives you feelings of pride and accomplishment. During the economic reopening, working also helps you to expand your career network, keep your skills fresh, and update your resume.
It All Takes Time
Another strong reason to start the job search now is the application and hiring process takes time. If you wait until you really need a job, you may be surprised at how long it takes to find one. By starting your job search now you’re being proactive and taking charge and control of your life. Even if a company or staffing agency doesn’t have a position posted, consider turning in a resume so they have one on file. This also gives you the opportunity to follow up in the coming weeks and months.
Companies and candidates trust Anodyne because we are committed to providing both the best options and opportunities. We are focused on providing the best service to those working in healthcare, light industry, and administration. By specializing in select positions throughout Eastern Massachusetts we’ve become the expert and the go-to staffing agency. Call our recruiters today for a consultation and find out how easy it is to work with people who understand your needs.