What is Unemployment Insurance (UI)?

In the present situation most of the people have faced critical issues with their earnings because of COVID-19. Most of the people have used their saving and other resources to live their life. Many people are not aware about the Unemployed Insurance (UI). Every person faces issues with their earning because of many issues but in case without any fault of them, their job had lost than UI is required to survive. Besides, it is a common thing in the many companies.  Moreover, many countries provide high level of UI based on their eligibility. In the USA, unemployed people got 27% of their last salary, which is sufficient for survive. In Norway and Finland this ratio is high that is varying between 80 to 90 %. In case of the UK, unemployment rate at 4.8 %.

However, some people taken advantage of this facility of government. Best thing is that it reduces suicide and crime rate as well. Unemployment rate is so high in the India as compared to developed countries. Thus, it should be required high UI to unemployed persons. Most of the governments are focused on this scheme as fair judgment is difficult in this situation. After COVID-19 pandemic most of the industries have affected and many people have lost their jobs. Thus, it is a basic need of them to earn money from different resources. However, there are many countries that set rules and regulations to feasible for taking UI.

In conclusion, UI should be provided to those people that really need it. UI should be managed with a particular department, as few people are aware about this benefit from government side. Besides, government should share such types of policies and news in between needy people. Finally, UI will be more useful for unemployed persons in the next few decades.

Comments

dk

Nice blog in this time after this pandamic

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