The federal government's pandemic response law, the CARES Act,includes some unprecedented adjustments to help the country deal with the coronavirus pandemic--including an additional $600 in unemployment insurance, weekly. That increase offers much-needed relief for many out of work Americans and their families, but it also has had an unexpected consequence. For some, the check for unemployment is higher than their paycheck was when they were working. If that's you, you're probably feeling pretty unmotivated to look for a job. We get it! But it's worthwhile anyway. Read on to learn why.

The Extra $$ Won't Last Forever

The extra unemployment insurance written into the CARES Act has an expiration date--July 31, 2020.  After that date, you'll just receive the amount of unemployment insurance that your state normally provides; that's usually less than half your income. Unemployment is designed to incentivize people to look for work by replacing only part of the income they've lost, and that model will return once social distancing protocols start to be relaxed.

Economic experts are predicting that the global economy will be impacted long after our shutdown ends. The job market is likely to be quite competitive this summer, as others around the country search for jobs once they are no longer receiving the CARES addition to unemployment. If you're able to lock in a job to help you ride out the crisis now, it's the best choice for your long term financial health.

Turning Down a Job Offer Disqualifies You From Unemployment

If you do receive a job offer and choose not to take it because your unemployment benefits are higher than the wages of the job,  you may well disqualify yourself from unemployment. Unemployment is designed as a short term solution while applicants search for their next position, so usually it requires that you accept any "suitable" job--a role comparable in pay, responsibilities etc to the one you lost.

There are exceptions in the CARES act for coronavirus related reasons you might decline a job--like needing to care for a sick person at home--but if everyone in your household remains healthy it's possible you could lose your benefits.

Health Insurance Matters

Now more than ever, having health benefits can be incredibly important. Even if it doesn't pay you as much as unemployment, a job offer that comes with insurance might be a worthwhile choice for you. You want to make sure that you don't have to pay high premiums to extend your health insurance plan after losing a job.

If we convinced you to get back to the search, check out our jobs guide and our list of companies currently hiring!