The extra $600 unemployment benefits will end before July 31 (via CNBCMakeIt)
July 31 falls on a Friday this year, which is a problem because states typically pay out unemployment benefits on a weekly cycle that ends on Saturday or Sunday. And because of the wording of the CARES Act, that means states will end the $600 extra payments on July 25 or 26, rather than on the very last day of the month, depending on how the state's weekly calendar is set up.
, senior policy analyst for the National Employment Law Project. Evermore adds that she hasn't been able to confirm any state that ends their weekly benefits cycle on a Friday.benefits or waiting to be approved, according to the Department of Labor. So once the extra $600 payments end, unemployed Americans will be left with whatever unemployment compensation their state typically pays out, the amounts of which can vary dramatically by state.
"It's going to be a real shock to people, especially in states like Arizona, where the maximum benefit is $240 a week," Evermore says. "I doubt anybody can afford rent in Phoenix on that much."But it's not just those who are unemployed who will be affected. "I think most people think that when the $600 gets cut off that if they're not unemployed, it's not going to affect them.
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Think that extra $600 in unemployment benefits will last until the end of July? Think again.Many out-of-work Americans counting on receiving an extra $600 a week through the end of July may be surprised to discover that benefit will disappear nearly a week earlier than they expected.
Lire la suite »
Millions of Americans will fall off an 'income cliff' when extra $600 in unemployment benefits ends next monthWith the extra $600 per week in federal unemployment insurance set to expire at the end of July, policymakers grapple with how to stimulate the economy and help the 21 million Americans who are still unemployed.
Lire la suite »
Think that extra $600 in unemployment benefits will last until the end of July? Think again.Many out-of-work Americans counting on receiving an extra $600 a week through the end of July may be surprised to discover that benefit will disappear nearly a week earlier than they expected.
Lire la suite »
Millions of Americans will fall off an 'income cliff' when extra $600 in unemployment benefits ends next monthWith the extra $600 per week in federal unemployment insurance set to expire at the end of July, policymakers grapple with how to stimulate the economy and help the 21 million Americans who are still unemployed.
Lire la suite »