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Mike is questioning whether or not he can collect unemployment.
Mike, I don't know what state you work in, but the laws have changed greatly
in the last 10 years. I can tell you that in Illinois, severance pay is NOT
qualifying income, but salary in lieu of notice and paid vacation time is.
Illinois has a single waiting week, however, weeks where you have qualifying
income cannot be applied to your waiting week.
Unemployment benefits have risen as well. I was downsized in the late 80s and
collected unemployment benefits - a whopping $115 a week. I was downsized
again this past May - benefits are now $368 a week (I have no depenedents).
Check with your state's department of unemployment compensation. You might
even be able to check it all out online.
If you're downsized, should you file? Yes. It's money that's come out of
your salary. Hope this helps. And I hope it doesn't happen to you.
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