Unemployment a Problem for Existing Workers, New Grads
The unemployment rate has reached an all-time high with the coronavirus putting millions out of work. With many businesses closed, many people are working from home or not working at all.
I have talked to many friends and family members who are out of a job and worried about making rent and paying for essential household items. According to the Guardian in London, millions of Americans are applying for unemployment, and economists are expecting the unemployment rate to climb to 15% or higher, which hasn’t happened since World War I.
Photo by: Emma Mattes
One thing that the Trump administration is doing to help the American Citizens is provide checks to people who have lost their jobs due to the coronavirus. According to the New York Post tens of millions of eligible Americans will have money directly deposited into their bank accounts. The funds will be given to Americans who paid their taxes in 2018/2019 and who make less than $75,000 per year. The checks will be coming over the course of a couple of months.
The negative impact of the stimulus checks being sent out is that college students or high school students that paid taxes will not be offered any money. According to Forbes, dependents are not eligible to receive a separate check because they still live with their parents and, presumably, don’t pay for most of their expenses. As a result, many soon-to-be college graduates will be stuck with no graduation ceremony, no job market and no assistance from the government.
It has been clear that many are suffering from this pandemic — not only from the sickness itself but also from not being able to work. Despite the circumstances, I have also been hearing good things in the news. Many people have been driving by friends’ houses for their birthdays and honking, many have been supplying food for people in need, and many have been helping friends and neighbors stay healthy by social distancing. Churches are moving to online services and making the best out of an awful situation. Plus, there has been more time to spend with loved ones.
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