Will Larger Unemployment Checks Continue Past July?
The country is slowly reopening the economy after months of closure due to the COVID-19 pandemic. Approximately 2.5 million people returned to work in May, yet 21 million remain unemployed and the number of workers reporting permanent job loss continues to rise. Given these grim statistics, it's not surprising that people are worried about how they're going to get through the next several months.
The CARES Act, passed in March, gave an extra $600 per week to those claiming unemployment benefits above and beyond what their states offered. But these extended benefits are only in effect until July 31, 2020. With that date now about a month and a half away, the federal government must decide what happens next.
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Source Fool.com
