Were you laid off from your job? Whether that layoff happened three weeks ago or three months ago, you may want to jump right back into work. Unfortunately, the job market has taken a hit all across the country. Jobs are out there, but they can be difficult to find. For that reason, you may be willing to accept a part-time job, but it the best choice? It depends. To determine if going back to work part-time is ideal for you, familiarize yourself with the pros and cons of doing so.
The Pros of Taking Part-time Work after a Layoff
There is money coming in. When you have a job, you make money. It is simple as that. If your unemployment benefits are running out or if you were denied unemployment, you may not have a choice. You need to put food on the table and pay your bills. If you are in this situation, you should be willing to accept anything. That includes a lower paying part-time job. Luckily, it does not have to last forever. You can move on when you find a stronger, stable opportunity.
That part-time job can turn into much more. Although the economy and job market are in poor shape now, it will not last forever. Both will make a comeback in time. Companies will rebound and make more money. They can pay their employees more and offer part-time employees full-time work. Moreover, it shows action on your part. Honestly, most people would not take a part-time job after getting laid off from work unless it was a life or death situation. Not you. You decided you wanted to work and found a job, even if it wasn’t what you were accustomed to. This drive and determination can help you work your way up the company ladder, as many like to promote from within.
You are out of the house. After a job layoff, expenses need to be cut. This often translates into staying home more. After a while, you may get used to spending all day at home. Also, anger, sadness, fear, and depression is common with job layoffs. Even if you can afford to get out of the house, you may not want to. This is often where the downward spiral begins. Whether you feel the onset of depression or are just restless from staying home too much, get a part-time job. It will not only help your wallet, but your overall wellbeing too.
The Cons of Taking Part-time Work after a Layoff
The money is from a part-time job, so it is less. For that reason, many laid off Americans use a part-time job as a last resort. They wait until their unemployment runs out. Be careful if you don’t want to wait. Compare the income made from a part-time job to your current unemployment checks. If your goal is to put food on the table and pay your bills, opt for the choice that gives you the most, even if it is collecting unemployment. In that case, don’t get a part-time job. Continue to look for steady full-time income, but take up a hobby too.
You may lose your unemployment benefits. As previously stated, those eligible to receive unemployment for more months want to compare the two. Although only employed part-time, you are still employed. This makes you no longer eligible to receive unemployment. As stated above, a part-time job translates into a part-time income. Is it really worth it to lose your $300 weekly unemployment check for a $150 a week part-time job?