The $600 Weekly Unemployment Boost Runs Out in July. Will It Get Extended?
Millions of Americans have lost their jobs in the wake of COVID-19, and while unemployment levels fell slightly in May, they're still extraordinarily higher than they were before the pandemic hit home. In March, the CARES Act was passed to provide relief for struggling Americans and called for, among other things, a $600 weekly boost in unemployment benefits.
Currently, anyone on unemployment is entitled to an extra $600 a week on top of the benefit he or she would otherwise collect. As such, some workers are actually making more money on unemployment than they did at their previous jobs. But that $600 weekly boost is set to expire at the end of July, and right now, lawmakers have a very important decision on their hands: to extend it or not.
Image source: Getty Images.
Source Fool.com
