Title: Could Your Unemployment Benefits Run Out Before New Stimulus Aid Is Passed?
Headings: Could Your Unemployment Benefits Run Out Before New Stimulus Aid Is Passed?
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Could Your Unemployment Benefits Run Out Before New Stimulus Aid Is Passed?
How long do regular unemployment benefits last?
What happens when regular unemployment benefits run out?
What extended unemployment benefits are available?
What if I’m self-employed but have lost income due to the pandemic?
How long will extended benefits be available?
What happens after federal benefits programs expire?
Who is most at risk of running out of benefits?
Different states offer benefits for different lengths of time
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Content: To qualify, you must not be eligible for regular unemployment benefits and be unemployed, partially unemployed, or unable or unavailable to work as a result of the coronavirus pandemic. The PUA benefits are available for a period of unemployment of up to 39 weeks. It’s important to note though that this program also expires at the end of 2020. How long will extended benefits be available? Full federal support of extended benefits, as described in the CARES Act, ends on December 31, 2020. That means both the Pandemic Emergency Unemployment Compensation program and the Pandemic Unemployment Assistance program benefits will expire by year’s end. What happens after federal benefits programs expire? That’s what a lot of policy makers and economists are worrying about. In a recent paper, economists from the Center on Budget and Policy Priorities said the number of weeks of unemployment benefits available to workers who’ve lost their income may not be enough to protect millions from running out of benefits while unemployment is still high. By early next year, if no additional aid is put into place, it’s likely that millions of people will have exhausted their benefits before finding work, the center predicts.