Tuesday, July 28, 2020

Truest statement of the week II

Over the past four months, while the financial aristocracy has actually increased its wealth, the severe limitations in the benefits provided to working people under the CARES Act have become apparent. Some 53 million people filed new claims for unemployment insurance during that period, and at least 32 million are still out of work, but only 20 million are currently receiving the $600-per-week federal supplement.
Millions of workers lost their benefits when they were forced to return to work at unsafe workplaces. Many more lost their benefits because they refused to go back to work, fearing their health and lives were in danger. Many others never received the federal supplement in the first place because their state unemployment compensation systems were so decrepit they could not program the additional payments.
The federal supplement expires on July 31, but since state systems pay benefits on a full-week basis only, with the benefit week ending on a Saturday or Sunday, benefits stopped for nearly all eligible workers on July 26 or July 27, for the week that ends August 1 or August 2.
The consequences of this cutoff will be felt in mass impoverishment, hunger, foreclosures, evictions and a dramatic increase in homelessness. This in turn will provide additional fuel for the coronavirus pandemic, which has a hugely disproportionate impact on the most vulnerable sections of working people.

The cutoff comes as the number of jobless continues to climb, with 1.4 million workers filing new claims for unemployment compensation for the week ending July 17, a figure that is widely expected to rise even further in subsequent reporting periods.

-- Patrick Martin, "$600-per-week jobless benefit expires for 20 million US workers" (WSWS).





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