The Trump administration on the next stimulus: Treasury Secretary Steven Mnuchin said any extension of enhanced unemployment benefits must be fair to both employers and employees
That weekly benefits boost, known as Federal Pandemic Unemployment Compensation , was intended to fully replace [or come close to replacing] wages for workers who were suddenly without jobs due to the coronavirus crisis. , but American workers filed 1.3 million claims last week, down from 1.4 million the prior week. Jobless claims topped out at 6.9 million in March.
"As some businesses have slowly come back, even if the unemployment rate trickles down, we will still be at an unemployment level above either the 1980s downturn or the Great Recession,” said William E. Spriggs, AFL-CIO chief economist and professor at Howard University’s Department of Economics, on a press call last week with Rep. James E. Clyburn , chairman of the Select Subcommittee on the Coronavirus Crisis.
From January to March, before the pandemic took hold over the U.S., unemployment benefits only replaced 45% of worker’s wages, or just under $400 per week. FPUC boosted that number to around $1,000 per week,. Some states cap their benefits even lower than $400. Florida, for example, has a maximum weekly unemployment benefit of $275 without the boost, based on earnings.
FPUC has become a major point of contention among lawmakers. Republicans argue that it offers workers little incentive to get back to work, but Senate Democrats are pushing to
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