Title: Millions could exhaust all of their jobless benefits by January
Headings: It’s not just the extra $600—millions of workers could exhaust all of their jobless benefits by January
It’s not just the extra $600—millions of workers could exhaust all of their jobless benefits by January
Food Banks in the Orlando area face continued demand as unemployment due to the COVID-19 pandemic persists. (Photo by Paul Hennessy/NurPhoto via Getty Images)
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Content: Millions could exhaust all of their jobless benefits by January
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It’s not just the extra $600—millions of workers could exhaust all of their jobless benefits by January
Published Thu, Aug 13 20203:42 PM EDT Updated Tue, Jan 12 20218:59 AM EST
Alicia Adamczyk @AliciaAdamczyk
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Food Banks in the Orlando area face continued demand as unemployment due to the COVID-19 pandemic persists. ( Photo by Paul Hennessy/NurPhoto via Getty Images)
NurPhoto | NurPhoto | Getty Images
How would you and your family be affected if Congress does not pass another stimulus package? CNBC Make It would like to talk to you. Email money reporter Alicia Adamczyk at alicia.adamczyk@nbcuni.com. Over the past few weeks, the expiration of the extra $600 in enhanced unemployment insurance and what it means for the record number of unemployed Americans has dominated headlines. But it’s not just the enhanced benefit that is on the line — millions could run out of jobless benefits altogether by the end of the year if Congress does not pass legislation extending eligibility, according to an analysis from the Center on Budget and Policy Priorities (CBPP). The CARES Act substantially increased the number of weeks those out of work can collect jobless benefits, from most states offering 26 weeks to all states providing a total of at least 39 weeks. However, that 13 week extension, called Pandemic Emergency Unemployment Compensation (PEUC), and the provision extending 39 weeks of unemployment benefits to gig and contract workers and the self-employed, called Pandemic Unemployment Assistance (PUA), expire at the end of December 2020. States also offer “extended benefits,” separate from what was created under the CARES Act, in times of high unemployment. Most states offer 13 weeks of extended benefits, though this varies.