If you have been let go or furloughed due to Covid-19 you are not alone. Unemployment in Colorado is skyrocketing. In fact, some predict unemployment in the coming months may rival the Great Depression. Back then unemployment was 24.9%. Just this past October Denver hit a record low for the number of people unemployed. Now people are having to file for unemployment in Colorado in record numbers. Hardest hit areas are bars, restaurants, hotels and the service industry. And sadly, many companies have had to completely fold up shop. They won’t even reopen once the state starts to lift social distancing restrictions. You may be wondering what are your Colorado unemployment benefits options.
How Much Unemployment Can I Get in Colorado
Colorado unemployment benefits range from as little as $25 a week to $561 weekly. Most unemployment claims are calculated by dividing the wages earned in the highest two consecutive quarters by 26 to give a weekly wage. This is then multiplied by 60%. So sadly, if you were a highly level executive making 6 digit figures you will not receive 60% of your wage but you will receive the maximum payout. If you fall in this boat your lifestyle is about to drastically change. Hopefully you have savings.
How Long Can I Receive Colorado Unemployment Benefits
Without Coronavirus your maximum time to receive benefits is just 26 weeks. In some rare occasions you can apply and possibly be awarded an extension.
How Do You Start the Colorado Unemployment Process
Start with filing a MyUI account through the Colorado Department of Labor. Be sure to have your social security number and bank information handy.
You can also file by phone through the Colorado unemployment phone number but with the massive amounts of Coloradans filing during Covid-19 I do not recommend it. Your wait times could be extreme.
303-318-9000 (metro Denver)
1-800-388-5515 (outside metro Denver)
Once you submit your claim you will need to wait for approval. Again, you are only eligible if you were let go by your employer. If you quit your job you will most likely be denied.
Once you are approved you will need to submit proof weekly you are looking for work and request benefits payout by phone or online every two weeks.
Pandemic Unemployment Assistance (PUA)
If you are self employed or a part time worker and normally do not qualify for unemployment there are is an option during the pandemic set up to help you.
Part-time workers (with fewer than 680 hours)
Available Feb. 2 – Dec. 26, 2020
Unemployed in Colorado Before Covid-19
If you were already receiving benefits before Covid-19 you will most likely be able to get an extension. If you benefits had already run out you may be out of luck. And obviously jobs are much harder these days to come by. Also, the class of 2020 is graduation and you have thousands of job seekers looking for their first real job.
If you are out of extensions and the bills are piling up you may be considering other options at this point. Mortgages, credit card debt, rent, auto loans and more can seem overwhelming. Many analysts predict there will be a huge spike in unemployment cases following the Coronavirus pandemic. It may possibly be in your best interest to look at all your options earlier than later. Contact us for a free consultation.