$600 Unemployment Payments Ending Sooner
(KATC) If you are an unemployed American receiving weekly unemployment payments of $600, those payments will be coming to an end sooner than expected.
Former Department of Labor chief economist Heidi Sheirholz says those $600 payments will be ending one week earlier than expected. This could mean the difference between paying the rent, mortgage, car note or not.
Because of the legal verbiage, most unemployed Americans thought the payments would end Friday, July 31. But because of the way state unemployment systems end their week, the last full week for the $600 unemployment payments will be July 26. None will be delivered after the 26th.
If you have been receiving the extra $600 per month, after July 26, your payments will be decreased to an average of about $375 per month. Exact numbers differ from state to state.
During a time of extreme hardship for Americans, this has come as a huge surprise leaving many in this country wondering how they will manage.
Experts suggest that if unemployment payments expire, companies will be forced to cut over 5 million jobs nationwide over the next year.