Finance

$600 unemployment boost ends July 31 without extension in sight

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People wait for their numbers to be called at an unemployment event in Tulsa, Oklahoma, on July 15, 2020.

Photo by Nick Oxford for The Washington Post via Getty Images

93% drop

Americans started receiving an extra $600 a week in April as a result of a federal coronavirus relief law. 

The federal subsidy came on top of states’ typical weekly payments. As a result, the average American got $921 a week in May, according to an analysis of Labor Department data.

But those checks will fall 65% after July 31, to about $321 a week.

The experience will vary broadly among states, which set their own benefit levels and vary greatly in generosity

In Oklahoma, which paid the lowest average weekly benefit in May, the average person will see a 93% reduction in jobless aid, to $44 a week. 

Oklahoma had a 6.6% unemployment rate in June, compared with the national rate of 11.1%.

There were about 118,000 people collecting jobless benefits in Oklahoma as of July 18, according to the Labor Department. (However, that total is almost certainly lower than in reality — the state is one of six that doesn’t report the…



Click here for the full story.
https://www.cnbc.com/2020/07/30/the-600-unemployment-boost-is-almost-over-for-some-their-aid-will-fall-93-percent.html

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