The Extra $600 Unemployment Benefit Is Going Away Next Month
If you've been receiving and counting on the extra $600 per week benefit that the government has been giving out, be aware that it is coming to an end next month.
There's an actual name for it. It's technically called the Federal Pandemic Unemployment Compensation and it was provided from the government to help people who were left unemployed due to the pandemic.
But it's about to come to an end. That program is set to expire on July 31st.
It is about to be very interesting as people start to head back to work. Businesses are opening back up and are going to begin needing employees again. And there should be plenty of people to choose from. According to WIVB, there are currently 20 million people who are out of work including 1.5 million who applied for state unemployment benefits just last week.
In many cases, employers are having a hard time getting people to come back to work even though it's available to them because they're making more at home than they did when they were employed and will lose money to go back.
That's what lawmakers are having to figure out these days. While Democrats are proposing a 3 trillion dollar relief package, it isn't expected to make it past the senate. Others are trying to fix the program to provide relief to those who need it, but not so much that people don't want to go back to work.
“We are going to make sure that people don’t get more money to stay home than they would to work,” - Treasury Secretary Steve Mnuchin
Some are even promoting a plan to pay people to go back to work. It's a plan that would give laid off workers $450 a week to go back to their jobs. But that payment would also expire by July 31.