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Can You Get a Side Gig While on Unemployment?



Illustration for article titled Can You Get a Side Gig While on Unemployment?

Photo: visualspace (Getty Images)

With the CARES stimulus and subsequent Lost Wage Assistance in the rearview mirror, it’s become even harder to make ends meet. If you’re receiving unemployment benefits, you might be considering a side gig. But will a job disqualify you from your benefits?

No, not if your part-time work earns less than you’re receiving in unemployment insurance. In fact, you can qualify for what’s known as partial unemployment, although the amount you receive will vary by state. (Your weekly benefit payout will be based on a lower percentage of your previous earnings, but how that’s calculated depends on your state as well).

How federal programs affect your benefits

Unemployment is jointly run by the federal government and the states, but a lot of how it pays out is decided at the state level, with most states offering up to 26 weeks in benefits. The federal CARES Act provided 13 additional weeks of federally-funded Pandemic Emergency Unemployment Assistance (PEUC) to all states. In addition, gig workers that normally wouldn’t qualify for unemployment were made eligible under the federal Pandemic Unemployment Assistance (PUA) program. Without new legislation, however, PEUC and PUA will not be paid after December 31, 2020.

How side gig benefits vary by state 

States can stop offering extra weeks from the PEUC if the unemployment rate continues to improve, and some states have already done so (Alabama, Arkansas, Idaho, Iowa, Missouri, Nebraska, North Dakota, and Wyoming), according to CNBC. For a comprehensive look at how many weeks of benefits are offered by each state, check out this post by The Street.

Additionally, to encourage part-time work, most states exempt a certain amount of your side gig earnings from counting against your unemployment benefit. It’s known as the “earnings exclusion,” or “earning disregard.” For example, if you made $300 in a week, and the state earnings disregard is $50, only $250 of that income will count against your unemployment benefit, per the National Employment Law project.

Most states’ earnings exclusion is based on a certain percentage of the weekly benefit, while others allow a small, fixed dollar amount (like $50). There’s a wide range, too—Tennessee has no exclusion amount, while North Dakota allows you to keep 60% of your weekly benefit amount. This greatly affects how much money you can earn while still accepting your weekly benefit check.

Bottom line

A side hustle or part-time gig can significantly increase your overall income through the use of earnings exclusions, but where you live matters, too. Since each state calculates your weekly benefit and exclusion differently, you’ll need to research your state to know exactly how your side income counts against your maximum weekly benefit. Since we’re still in a pandemic, knowing whether the time and risk of another job is another factor to consider, too. For information on partial unemployment qualifications in your state, click here.

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How Many Gaming Innovation Group Inc. (OB:GIG) Shares Did Insiders Buy, In The Last Year?




It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. So we’ll take a look at whether insiders have been buying or selling shares in Gaming Innovation Group Inc. (OB:GIG).

Do Insider Transactions Matter?

It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. However, rules govern insider transactions, and certain disclosures are required.

Insider transactions are not the most important thing when it comes to long-term investing. But equally, we would consider it foolish to ignore insider transactions altogether. As Peter Lynch said, ‘insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise’.

View our latest analysis for Gaming Innovation Group

The Last 12 Months Of Insider Transactions At Gaming Innovation Group

The Independent Director Henrik Ekdahl made the biggest insider purchase in the last 12 months. That single transaction was for kr1.0m worth of shares at a price of kr5.19 each. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of kr11.90. While it does suggest insiders consider the stock undervalued at lower prices, this transaction doesn’t tell us much about what they think of current prices.

The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!


OB:GIG Insider Trading Volume December 2nd 2020

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.

Insider Ownership

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. Gaming Innovation Group insiders own about kr275m worth of shares. That equates to 26% of the company. We’ve certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

So What Do The Gaming Innovation Group Insider Transactions Indicate?

It doesn’t really mean much that no insider has traded Gaming Innovation Group shares in the last quarter. On a brighter note, the transactions over the last year are encouraging. Judging from their transactions, and high insider ownership, Gaming Innovation Group insiders feel good about the company’s future. So while it’s helpful to know what insiders are doing in terms of buying or selling, it’s also helpful to know the risks that a particular company is facing. While conducting our analysis, we found that Gaming Innovation Group has 1 warning sign and it would be unwise to ignore it.

Of course Gaming Innovation Group may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

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This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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Biffa, Covanta & GIG in financial close on Protos EfW




Biffa is set to develop its second energy from waste (EfW) plant in the UK after achieving financial close on the Protos facility in Cheshire, it announced today (1 December). 

The facility is to be developed by Biffa, American waste management company Covanta and Macquarie’s Green Investment Group (GIG). The three companies teamed up in 2017 (see story). Covanta and GIG will each own 37.5% facility, with Biffa, the primary waste supplier to the plant, owning the remaining 25%.

An artist’s impression of the facility

Located near Ellesmere Port, the facility will have the capacity to treat 400,000 tonnes of non-recyclable household and industrial and commercial waste every year. It will be capable of generating 49 megawatts of “low carbon” electricity annually. 

Michael Topham, Biffa’s chief executive, said: “We are pleased to have reached this important milestone together with our partners and to be taking another step towards improving the UK’s waste infrastructure and creating a low-carbon and resource-efficient economy. 

“This project demonstrates our commitment to helping the UK to build the recycling and energy from waste infrastructure it needs to reduce its reliance on unnecessary export or landfill of valuable resources.” 


The plant is expected to cost between £345 million and £355 million. Biffa’s financial commitment to the project will amount to £35 million, which it says will be invested in the next three years from existing facilities.

“This project demonstrates our commitment to helping the UK to build the recycling and energy from waste infrastructure it needs”

Michael Topham, Biffa chief executive

Construction of the facility will be led by a joint venture between Greek industrial conglomerate Mytilineos S.A and German construction company Standardkessell Baumgarte GmbH. Biffa says it expects the facility to provide “significant” economic opportunities to the local and regional area during the three-year construction phase and upon its completion. 

Covanta will supply operations and maintenance services once the plant is up and running, while Biffa will provide fuel for the facility, with more than 60% of the feedstock to be sourced from Biffa’s own operations. 

EfW infrastructure 

Until recently, Biffa had never owned any EfW infrastructure. Now, the Protos facility is to be the company’s second plant in the UK. Biffa reached financial close on its 350,000-tonnes-per year capacity Newhurst EfW facility in Leicestershire in February, a project it is working on with the same joint venture partners (see story). A video showing the progress made on the construction of the plant can be seen below. 

Covanta is involved in four EfW projects in the UK: the Newhurst and Protos plants, the 240,000-tonnes-per-year capacity Earls Gate Energy Centre in Grangemouth, Scotland, and the 545,000 tonnes-per-year capacity Rookery Pit facility in Bedfordshire. The latter facility is being developed in partnership with Veolia and GIG. 

Covanta President and CEO Michael W. Ranger said: “Today’s announcement marks our fourth energy-from-waste project in the UK with GIG and our second with Biffa, all within the last two years, and demonstrates our sustained progress in executing on our strategic plans to grow in this important market.” 

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PRO Unlimited Announces Top Market Trends in the White-collar Gig Economy




SAN FRANCISCO, Dec. 1, 2020 /PRNewswire/ — PRO Unlimited, a global innovator of contingent workforce management software and services, today announced the top jobs market trends in the skilled, white-collar contingent (i.e. non-employee, contractor, consultant) landscape in 2020 based on year-over-year company data. Utilizing the company’s largest client data sets across hundreds of enterprises and thousands of job titles, PRO examined how the COVID-19 pandemic impacted contingent labor hiring across industries, demand in job roles and hot growth markets nationwide.

“There’s a strategic shift happening where employers competing in a war for skilled specialty talent have accelerated their adoption of contingent labor – and it’s not only “gig” app and blue-collar jobs anymore. In fact, 40% of all white-collar workers fall into this category,” said Kevin Akeroyd, CEO of PRO Unlimited. “At the same time, business professionals are embracing this type of work. Not only does this new contingent economy offer increased flexibility and high-paying white-collar jobs, but employers benefit from a more diverse talent pool, greater innovation, better fiscal management and much more. By late-2021, we expect over half of skilled workers will be contingent and employers will need to successfully manage this expanding workforce as part of their overall human capital strategy.”

Utilizing PRO’s deep industry insights and historical client data, the company compared hiring patterns in the contingent industry that occurred as a result of the COVID pandemic to that of the 2008 Great Recession.

Highlights include:

COVID-19 pandemic impacts contingent hiring harder and faster than the 2008 Recession, but it rebounded much more rapidly:

  • While contingent hiring declined 56% in the first half of 2020 – a much larger and faster drop compared to the 2008 Recession – it quickly returned to pre-COVID levels by July and hiring was 9% higher year-over-year by September.
  • Contingent hiring and the economy overall is recovering faster now than it did from the 2008 Recession. Contingent hiring historically recovers quicker than the overall U.S. labor market coming out of recessions.

“The onset of the pandemic in early 2020 and the high amount of uncertainty from an economic perspective sent employers into crisis mode. Many of them announced hiring freezes and layoffs. As such, we saw a decline in contingent hires, but it quickly rebounded and increased higher than pre-pandemic levels. We expect contingent roles will replace many full-time, white-collar jobs going into next year,” added Akeroyd.

Demand increased for IT/technology, healthcare and professional services, while manufacturing and industrial positions have dropped significantly

  • The hottest industries for contingent hiring in 2020 were IT/technology, healthcare and professional services. Contingent labor hiring in healthcare was least impacted by COVID.
  • Jobs in IT/technology, healthcare and professional services have increased significantly in demand from 2019 to 2020, while industrial, manufacturing and administrative positions have declined. For example:
    • Hiring of IT analysts, who provide tech support within companies, is up 43%, as is the use of data engineers (31%), IT/tech project managers (23%), marketing managers (18%), clinical pharmacists (18%) and designers (9%).
    • Jobs on the decline include administrative assistants at 51%, assembly specialists at 69%, and manufacturing associates at 32%.

White-collar gig workers look for the highest monetary bidder in their job searches, while culture and company values are less of a priority

  • According to a client survey commissioned by PRO among contractors, 40% of respondents say monetary compensation is by far the most valued factor in their job search.
  • Less valued factors include the opportunity to convert to a full-time employee (19%), unique project opportunities or skill-building (14%), and company values/culture (8%).

U.S. cities like Nashville, Charlotte and Indianapolis are emerging as hot growth markets for jobs — in fact, hiring is stronger than it was pre-COVID

  • Salt Lake City, Denver, Austin and Hartford were all cities that were already “anointed” as metros that were poised for growth pre-pandemic. While these cities have not returned to pre-COVID hiring levels, their rate of hiring is remaining steady and showing signs of improvement. Employers are not abandoning hiring from these metros.
  • Nashville, Charlotte and Indianapolis have emerged as strong hiring alternatives as their hiring levels are even stronger now than they were pre-pandemic.
  • In the West, hiring has already returned to higher than pre-pandemic levels, but lower year-over-year.

For more information and to download the PRO Unlimited Labor Market Report, click here.

About PRO Unlimited

PRO Unlimited, through its purely vendor-neutral Managed Services Provider (MSP) and Vendor Management System (VMS) solutions, helps organizations around the world address the costs, risks and quality issues associated with managing a contingent workforce. A pioneer and innovator in the VMS and MSP space, PRO offers solutions for the procurement and management of contingent labor, 1099/co-employment risk management, and third-party payroll.

SOURCE PRO Unlimited

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