How Unemployment Works
by Jacob Silverman
Even in a country like the United States, which has the world’s largest economy, unemployment is an unavoidable fact of life. As of April 2007, 6.8 million people, 4.5 percent of the workforce, were unemployed in the U.S. [Source: Bureau of Labor Statistics]. This may seem like a lot of people, but the unemployment rate is actually down from a ten-year high of 6.3 percent in June 2003 [Source: Bureau of Labor Statistics]. A certain amount of unemployment is to be expected, but for those who are unemployed or are facing losing their jobs, life can be difficult.
In this article, we’ll look at getting fired, coping with job loss, when and how to resign and what to do to help you get back on your feet again. We’ll also explore Unemployment Insurance and COBRA, two programs designed to help the unemployed.