You Should Go Back To Work After The Lockdown Ends, Even If You're Making More Money On Unemployment
If you’re one of the many people who lost their jobs during the Coronavirus pandemic, you’ve probably taken advantage of unemployment benefits. We’re lucky that our government has filled the gap as many of us have struggled to make ends meet – but there have been some unintended consequences.
On March 27, President Trump signed the $2 trillion CARES Act into law. As part of the law, Congress approved an additional $600 a week in unemployment insurance for those who lost their jobs due to the Coronavirus. In an effort to match the average salary of those who lost their jobs in 2020, they raised the weekly unemployment check to $970 a week. What they didn’t account for was the difference between the average salary and the median salary, which is much lower.