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Investments glossary

Unemployment Compensation

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Quotes of the day:

I, on the other hand, have a degree from the University of Life, a diploma from the School of Hard Knocks, and three gold stars from the Kindergarten of Getting the Shit Kicked Out of Me.

— Captain Edmund Blackadder, Blackadder Goes Forth

Unemployment compensation is paid by the state to unemployed workers who have lost their jobs due to layoffs or retrenchment. It is meant to provide a source of income for jobless workers until they can find employment. In order to be eligible for it, certain criteria must be satisfied, such as having worked for a minimum stipulated period and actively looking for employment. Unemployment compensation, generally provided by an unemployment check or a direct deposit, provides partial income replacement for a defined length of time or until the worker finds employment, whichever comes first. It is also known as “unemployment benefits” or “unemployment insurance.”1



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