The Extra $600 Unemployment Benefits Are Ending Next Month. Here Is What We Know.
Are you one of the many American workers that got laid off due to the coronavirus? You have been able to bring home an additional $600 a week thanks to the CARES Act, but that could all be going away next month.
Last month, the democratic led House of Representatives passed what it calls the HEROS Act, which would extend these benefits until January of 2021.
If this Act was to pass the Senate (which they are saying it WON’T, as it is written), 5 out of every 6 of those receiving the benefits would make more money by staying home, instead of returning to work.
In other words, there would be absolutely no incentive for those people to return to work. If you are going to get paid for staying home versus working — you’re going to stay home. No Question.
But extending the $600 unemployment benefit would mean that Americans would have more money to spend in stores, and that could ultimately lead to lower unemployment, Heidi Shierholz, an economist at the Economic Policy Institute, a left-leaning think-tank based in Washington, D.C., said.
Market Watch
There are several choices on the negotiations table. The goal is to keep the economy stimulated, and for Americans to be able to keep feeding money into the economy, KEEPING it stimulated.
One choice is to approve the House recommendations, and allow the $600 per week benefits to continue through January, no matter what happens with the coronavirus.
Another choice is a “proposal, known as the Worker Relief and Security Act, would allow Americans to continue to receive the additional $600 benefit for as long as the national emergency or state emergency for COVID-19 is in effect. Once the national or state emergency is terminated, jobless Americans would receive benefits based on their state’s unemployment level.”
Yet a THIRD option would offer an incentive for the person to RETURN to work, “which would provide an additional $450 a week for Americans who return to work.”
Given that more than 15 million unemployed Americans are categorized as ‘temporary layoffs,’ we need to be sure that there’s no financial disincentive for these individuals to get back into the workforce when those jobs become available to them again.
Market Watch
There are, of course, opponents of THIS option, that say this incentive would lead American’s to take the wrong job — just getting the first job they are offered.
If lawmakers fail to act next month, the extra unemployment benefits will just disappear, and nothing new will come of all this new stimulus talk.
Basically, it is all in the hands of lawmakers, and we really don’t know what they are going to decide. We just have to trust they have the best interest of the American people in mind as they make these decisions. We will just have to wait and see what happens in the next month.
Many of us are patiently waiting to go back to work, not everyone out of work due to this is out of a job, some make more on unemployment with the Xtra $600 some don’t bc unemployment alone isn’t even half of the wages people make. So when you add in the additional money we’re little over our regular wages not $2400 over. Also this if us out of work till this is over have bills to catch up on as well as other things due to waiting weeks for unemployment wages to kick in. Most people are still behind. We didn’t get to work and keep making money like others have. People wanna complain how they had to work and they don’t get Xtra money, be grateful you had work and didn’t get behind, people that been working got other benefits such as paying bills late or min amounts, didn’t have to worry about bills getting shut off and could use wages for other things that weren’t necessary bc they knew they didn’t have to pay this or that. Not everyone is caught up yet. If you people didn’t want to work then you have have told the employer. People that don’t want to go to work shouldn’t receive anything. Workers and ppl temporarily out of work due to Covid-19 should both have different benefits based on situation. Workers shouldn’t have gotten $600 bc they still have their jobs. If the $600 is goin to keep goin on the they need some regulations not just hand it out to anyone especially ppl who don’t want to work. You only get unemployment bc your not working you don’t get it bc you just don’t work
I can understand both ways. I got laid off as I work in the school although not as a teacher… had to take care and homeschool my three kids. On March 26 took my husband to the hospital as he was having issues breathing. They rushed him into hospital…. that was the last time I saw him for more than 6 weeks as 12 hrs after I dropped in off he had to be placed on a vent and was on for 30 days. We almost lost him a few times… such a very scary time! He is now still at rehab recovering… it’s a long slow recovery as not only did he have covid but also pneumonia and mersa! He is still in rehab and they are telling us recovery time with be 6-9 mo!!! So we don’t know when he will be back to work! Medical bills are POURING in! The extra money with the $600 a week is helping to keep us afloat! Don’t know where we’d be without it!!!
Without the $600 to continue there will be a huge decline in the economy. Many people were permanently laid off from lack of work. In other words all the factories are not receiving orders so they have no work for people until the orders start rolling in again. It is going to take time for things to get back up and running again to re-create those jobs
I agree with those annoyed about unemployment paying more than wages. As a teacher. I’ve worked the entire quarantine in a job requiring a degree and I have 13 years experience. Meanwhile, my sister, who had just started a factory job, is making more than me.
I work in a grocery store the whole time and people on unemployment gets more then we do working this whole time not far it should have be money for the working and non-working
There are some of us, however, that legitimately need that $600. I’m still making less than I did working, and I am unable to return to work due to physician ordered quarantine. My age and health issues prevent it.
I lost my job thanks to Covid? the extra 600 is the only way we can get things paid . Unemployment doesn’t pay enough normally and I wish people would quit crying cuz they “had to work” when this is over YOU have a job ! Stop acting like people choose to stay home because it paid better. I would rather have the security of a JOB
Agreed! I didn’t ask to lose my security or have the rug pulled out from under me! I have and am applying for jobs all the time but the sea of applicants is so vast right now you have to have the top qualifications to even be considered. Those that are an essential Employee forget how hard it is once your unemployed in a time like this and also forget how lucky they are to still have a job to keep returning to daily! I’d love to have that security again!!
I think is good to staying the 600 stimulations to help are family of 4 !! Everyone got behind in bills .. like me to catch all my bills . we’ll take long time to straight out are bills , even we back to work it will not help to take care everything . ..because California is very Spence specially in rent .
What about all the people who HAVE been working through all this? The “essential” workers? The people coming back to work, as well as those unemployed, will be making more a week than most of us. EVEN the part timers. I have worked over thirty years at my job and my daughter who works part time (and was laid off due to covid-19), is bringing home at least 600 more per week than I am!
Totally agree! I’ve worked the entire time, totally exhausted because I have had to do my job and the work of three others, while they stayed at home with their families, making more than I will ever make. I understand those that received unemployment, plus the $600 and still made less, because they make more when working, their stories
are a bit different. But NO ONE should have received more than what they were earning in the first place! It’s a no win for most. And, we just received word we won’t receive raises this year because of all this. Ridiculous! Putting our lives in harms way every day, no raise, 3 times the work was done and now, we are being informed we get to keep our job, but will continue to do the work of 3 people with no raise or increase, no bonus for filling the gaps and no time off to recuperate. Frustrating at best!