Employment insurance coverage (EI) is a authorities program that gives short-term monetary help to unemployed employees. It helps employees who’ve misplaced their jobs by way of no fault of their very own, akin to attributable to a layoff or enterprise closure. EI supplies revenue help, in addition to entry to employment and coaching packages, to assist employees get again into the workforce as shortly as potential.
EI is a crucial social security web that helps employees and their households climate the monetary of job loss. It additionally helps to stabilize the financial system by offering revenue help to customers and companies throughout financial downturns.