Unemployment insurance is designed to prevent you from losing your home because of an employment hiccup. However, it is not intended to replace gainful employment. So to balance these two goals, unemployment insurance pays out regularly for a certain number of months assuming you are looking for a new job. Does this mean that you must take any job that comes your way, or can you be selective and wait for one that fits your qualifications? Well, the answer is typically contingent upon your circumstances.