Unemployment Update 9-17-20: Weekly Jobs Report States Pay $1,800 and $2,400 Unemployment Benefits

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Happy Thursday, which means that it’s time for your weekly jobs report from the Department of Labor (DOL).

This week’s report brought some good news, and slightly overperformed the estimates of those DOW Jones economists.

The weekly report showed that 860,000 Americans filed their first time unemployment claims, which is slightly lower than the 875,000 initial claims predicted by economists.

Continuing unemployment claims dropped by nearly 1 million this week, falling by 900,000 to million Americans currently collecting unemployment benefits.

While we are headed in the right direction, these numbers are still way too high and we need to protect all of these out of work citizens with enhanced unemployment benefits to avoid any further damage to the economy.

Meanwhile, millennials (people ages 24-38) have been reeling from that thing out there, and are among the hardest hit groups of Americans when looking at unemployment rates.

According to Pew Research Center, 35% of US citizens 18-29, and 30% of Americans ages 30-49 say they, or someone in their household, have lost their job.

Another study by the Bureau of Labor Statistics shows that these millennials are staying on unemployment longer than other age ranges, with an average claim of weeks.

Finally, Yelp recently published an economic impact report that contained some shocking numbers regarding businesses that have been forced to permanently close due to the current economic climate.

A whopping 60% of businesses that were forced to shut their doors in March will not be able to open them ever again.

Yelp estimates that nearly 98,000 companies across America have been forced to close, ranging from March 1st to August 31st.

They also explained that over 163,000 businesses have experienced some sort of closure over the same time period.

The restaurant industry has been impacted severely, with over 32,000 restaurants closed at some point over the last 6 months, and more than 19,500 permanently shut down.

Hopefully Congress can pass another stimulus package soon that contains extended enhanced unemployment benefits, more small business PPP loans and another stimulus check to help all of us, including these small businesses, ride out the rest of this treacherous 2020 storm.

Congrats to everyone in Alabama, Arkansas, California, Connecticut, Florida, Georgia, Idaho, Illinois, Iowa, Kentucky, Louisiana, Maine, Maryland, Michigan, Minnesota, Mississippi, New Mexico, New York, North Dakota, Ohio, Pennsylvania, Rhode Island, Utah and West Virginia, and Wyoming.

I’m hearing that your states are currently paying out, and I hope that you receive all 6 weeks of LWA $300 and $400 weekly unemployment benefits while they last!

If you still have not applied for unemployment benefits in your state, do yourself a favor and apply for these extended enhanced unemployment benefits.

Get your state benefits, plus the extra $1,800 or $2,400 unemployment checks from the Feds, just by describing your employment situation and how it’s been affected by that thing out there.

To all the gig-workers, self employed, independent contractors or 1099 workers even side hustles and part time gigs, you are eligible for the PUA thanks to the CARES Act.

Check with your state’s unemployment and PUA guidelines, be honest and provide all necessary documentation, and get the money that you deserve in your bank account within days of approval!

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