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Yoni Heisler
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- FEMA recently approved a $300 increase in weekly unemployment benefits due to the economic impact of the coronavirus pandemic.
- Individuals in about 41 states are eligible to take advantage of the program.
- While some states already started paying out the increase, most won't begin until mid to late September.
It may be years before we can fully grasp the impact the coronavirus has had on the U.S. economy. What we know now, though, is that the coronavirus caused an estimated 100,000 businesses to close up shop for good. On top of that, the coronavirus left millions of Americans out of work. And while some folks may eventually return to their positions, there are countless jobs that are simply not coming back.
Not surprisingly, the coronavirus was responsible for the highest level of unemployment in U.S. history. Whereas the number of unemployed Americans before COVID-19 was somewhere in the 6 million range, that figure more than tripled and jumped up to around 20-21 million by May. Pew Research notes that the unemployment rate at the peak of the coronavirus could have reached as high as 16%. As a point of contrast, the unemployment rate back in February of 2020 was 3.8%.
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Here’s when you can expect to see an additional $300 in your unemployment check originally appeared on BGR.com on Thu, 10 Sep 2020 at 19:21:36 EDT. Please see our terms for use of feeds.
Via BRG - Boy Genius Report