What does Unemployment Insurance provide for workers?

Unemployment Insurance serves as a crucial safety net for workers who find themselves in the unfortunate position of losing their jobs due to circumstances beyond their control, such as downsizing, layoffs, or business closures. This program is designed to provide temporary financial assistance to help individuals during their unemployment period while they seek new job opportunities. The benefits are typically based on previous earnings and are available for a limited duration, ensuring that workers have some financial support during their transition to new employment.

The other options do not accurately describe the purpose or function of Unemployment Insurance. Weekly bonuses for employees are not part of what this program offers. Additionally, Unemployment Insurance is not intended for workers who voluntarily quit their jobs; such individuals typically do not qualify for benefits. Lastly, a retirement plan funded by employer contributions pertains to different benefits entirely and does not align with the concept of unemployment support.