According to the US Bureau of Labor Statistics, the US unemployment rate jumped to 14.7% in April, the highest level since the Great Depression.
Over 47 million Americans could lose their jobs in the second quarter, due to the coronavirus pandemic.
Business Insider compiled advice from human resource and retirement experts on steps to take if you lose your job.
They include: 1.
Contact your HR department right away with any questions or documentation you may need from the company, including how to file for unemployment.
2.
Ask for your company's Federal Employer Identification Number (FEIN).
This information is needed to file unemployment in some states.
3.
File for unemployment right away.
The government has expanded some unemployment benefits to provide $600 per person, weekly through July.
4.
Find out how long you can keep your health insurance and learn about COBRA.