skip to Main Content

Report Warns of Drop in Consumer Spending if Supplemental Unemployment Ceases

  • JPMorgan Chase Institute study determines that $600 a week supplemental unemployment has helped keep consumer spending levels healthy during COVID-19 pandemic
  • Warning that aggregate spending could drop 4.3 percent if at least some of the benefits are replaced
  • Congress still working on unemployment deal following expiration of enhanced benefits last week
Read more

Unemployment Extension Hits Partisan Roadblock As Enhanced Benefits End

  • Democrats reject Republican proposal of short-term extension of enhanced unemployment benefits as insufficient as supplemental $600 a week expires tonight
  • Many states have already distributed their last enhanced unemployment checks
  • With several unemployment options on the table, congressional and White House leaders set to continue negotiations
Read more

Yes, You Can Restart Unemployment Benefits If You’re Laid Off Again

  • American workers may find themselves unemployed a second time due to resumed shutdowns or PPP depletion
  • The CARES Act and other rules allow people to get benefits over a longer period of time
  • What happens when the ‘benefit year’ ends
Read more

Layoffs Stuck at High Level as 1.3 Million Seek Jobless Aid

  • More than 1.3 million Americans applied for unemployment benefits last week
  • Resurgence in COVID-19 cases forces reversal or pause of reopening plans in several states
  • Companies warn of potential need for further layoffs as economy regains only about one-third of jobs lost in March and April
Read more

Economists Push For Additional Direct Cash Payments to Aid Economy

  • A group of 153 economists calls for additional direct cash payments to Americans to help stimulate the economy
  • Payments under the CARES Act helped boost spending among lower income households, mostly for essentials
  • Supplemental unemployment funds set to expire at end of July
Read more