U.S. markets closed
  • S&P 500

    4,166.45
    -55.41 (-1.31%)
     
  • Dow 30

    33,290.08
    -533.37 (-1.58%)
     
  • Nasdaq

    14,030.38
    -130.97 (-0.92%)
     
  • Russell 2000

    2,237.75
    -49.71 (-2.17%)
     
  • Crude Oil

    71.50
    +0.46 (+0.65%)
     
  • Gold

    1,763.90
    -10.90 (-0.61%)
     
  • Silver

    25.84
    -0.01 (-0.04%)
     
  • EUR/USD

    1.1865
    -0.0045 (-0.38%)
     
  • 10-Yr Bond

    1.4500
    -0.0610 (-4.04%)
     
  • GBP/USD

    1.3809
    -0.0115 (-0.83%)
     
  • USD/JPY

    110.1500
    -0.0810 (-0.07%)
     
  • BTC-USD

    35,911.51
    +118.30 (+0.33%)
     
  • CMC Crypto 200

    888.52
    -51.42 (-5.47%)
     
  • FTSE 100

    7,017.47
    -135.96 (-1.90%)
     
  • Nikkei 225

    28,964.08
    -54.25 (-0.19%)
     

Why Are So Many States Ending Enhanced Unemployment?

·3 min read
Why Are So Many States Ending Enhanced Unemployment?

When President Joe Biden signed the $1.9 trillion American Rescue Plan into law in mid-March, he didn't just pump stimulus funds into Americans' bank accounts -- he also extended boosted unemployment benefits through early September so jobless workers could collect an extra $300 a week on top of their state benefits. At a time when the U.S. jobless rate is still considerably higher than it was before the pandemic began, you'd think the unemployed would be entitled to a bit of extra help -- especially since a relief bill was signed that expressly allows for it. Or, to put it another way, many lawmakers feel that increasing unemployment by $300 a week discourages the jobless to go out and find work, since many people -- especially lower wage earners -- can make a comparable living on unemployment as they would at a paying job.