While the rate of increase in unemployment filings actually decreased recently, the national unemployment rate is still over 13%. This has many of those who are currently unemployed wondering if the additional $600 in weekly benefits will run out, or if Congress will extend those benefits.
When Do Unemployment Benefits Run Out?
So, does the extra $600 run out in July? According to MarketPlace website:
“The federal government has not changed or extended the unemployment benefits it created under the CARES Act in response to the COVID-19 lockdowns, in the same way, that it has for other programs like small business loans, so the extra $600 in weekly benefits is currently still set to expire at the end of July 2020.”
While we see signs of the economy making small recoveries, we have also seen the Fed keep interest rates low and The National Bureau of Economic Research declared that a recession started in February 2020. What does that mean to you?
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