Two thirds of jobless Americans have higher incomes than before the pandemic thanks to unemployment benefits

Democrats in the American Congress demand the extra subsidy of $600 a week to be paid until the end of July. Yet, Republicans argue that the current amount of unemployment benefits is too generous for those who had lost their jobs due the coronavirus pandemic. According to analysts from Chicago University, 68% of Americans have now higher incomes that they did before they had lost their jobs.

And one fifth of workers have even double the salary compared to their salaries from previous jobs. Median of social benefits is 134% higher compared to lost salaries and the situation differs in each state. While the median reaches 129% in Maryland, New Mexico reports median of 180% to previous salaries. However, we must also mention that a direct payment of $1,200 has been included in the sum. Most Americans had received this direct payment but unlike the social benefits of $600, the direct payment was sent to Americans only once.

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Gulf Brokers Ltd. Review

Comparing spreads, commissions, trading platforms, rules and reading dozens...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Irish regulator fines Google €403 million over location data

The Irish Data Protection Commission (DPC) has fined the...

US Politicians’ Net Worth & Stock Holdings: What Financial Disclosures Reveal

How wealthy are American politicians — and what do...

U.S. stocks, led by tech shares, rose after the Fed’s rate hike

US stocks headed higher a day after the Fed...

The Best Online Broker 2026 competition has announced its winners

Voting by Trader Magazine readers for the best online...

OpenAI pledges more rigorous reporting on incidents involving artificial intelligence systems

American company OpenAI wants to report more consistently on...

Dave Portnoy Net Worth vs. Grant Cardone: How Business Moguls Built Their Fortunes

Dave Portnoy and Grant Cardone have built their fortunes...

U.S. stocks fell further on the eve of the Fed’s rate decision

All three major U.S. stock indices weakened further today...
spot_img

spot_imgspot_img