Historically in the US, freelancers (which includes influencers) were not eligible for unemployment, unless you had an S-Corp. That said, with over 57 million people that identify as freelancers in the US, new regulations have been released around who is eligible for unemployment.
Over the past few weeks, companies have fully cut marketing budgets and many people (like photographers) can’t go to studios to shoot as social distancing measures are now in effect until April 30th. Influencers have had campaigns put on pause and budgets cut. This can lead to a great deal of unnecessary stress. That said, if you are one of the many influencers navigating what the next few weeks will look like, you will be very happy to hear that you may now be eligible for unemployment.
As of last week, under the new $2 Trillion stimulus package, called the Coronavirus Aid, Relief and Economic Securities Act (CARES), freelancers are now eligible for unemployment as the new bill now expands unemployment insurance to self-employed workers and independent contractors.
What does this mean for you? While unemployment benefits vary from state to state, on average according to CNBC, “People who in the past didn’t qualify for unemployment insurance will receive 50% of their state’s average benefits payout, plus $600 per week.”
Now, how do you apply? Each state is different, but we recommend going to your state’s unemployment website. Each state has a different list of eligibility requirements. The Worker ReEmployment will help you find out more about your state’s unemployment eligibility.
While you’re preparing, CNBC has a great roundup of all of the things you need to gather to efficiently file. The one thing we do know is, the sooner you file the better.
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