Title: What happens when the $600-a-week unemployment benefit ends? - Marketplace
Headings: COVID-19 Economy FAQs
When $600-a-week pandemic unemployment checks run out, what then?
Mitchell Hartman Jun 30, 2020
Latest Updates : COVID-19
COVID-19 Economy FAQs
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The $600 a week in extra benefits provided to every jobless worker who’s on unemployment insurance right now is set to expire July 31. Part of the CARES Act, the Federal Pandemic Unemployment Compensation program is being paid to roughly 29 million Americans. And if Congress doesn’t do something by the end of next month, it could get economically ugly. Since COVID-19 hit in March, millions of workers have been furloughed or laid off. Congress has responded by adding the extra unemployment money to every state unemployment check in the country. Economist Michael Strain at the American Enterprise Institute said that is “providing a lot of income security to workers, and it supported overall consumer spending.” Those payments have replaced 10% to 15% of Americans’ pre-pandemic income. If the money’s cut off at the end of July, Michele Evermore at the National Employment Law Project said nearly 30 million unemployed Americans will be thrown back onto state benefits alone. Latest Updates :