The CARES act gives $600 a week extra in unemployment benefits -- but it expires at the end of July. What if there's a second wave of coronavirus?
Some public-health experts say there could be a second wave of coronavirus infections on the horizon, possibly even worse than the first. So what will come of workers who remain reliant on unemployment-insurance benefits at that time? And what about those who find a job, only to lose it during the next economic shutdown?
A potential problem for workers who get laid off again In most states, workers’ labor-market experience over the past year serves as the basis for whether they qualify for unemployment benefits and how much they receive, Stephanie Aaronson, the vice president and director of the economic studies program at the Brookings Institution, a center-left think tank.
“If this were to go on for 18 months,” she added, “it might be that as people cycle on and off of unemployment insurance, they’re really not eligible for substantial benefits because they don’t have a good employment history.” States also have extended-benefits programs, funded 50-50 by the state and federal government, which kick in during periods of heightened unemployment to activate up to 13 additional weeks of benefits. Congress can also manually extend benefits: During the Great Recession, Congress allowed unemployed people to collect up to 99 weeks of benefits. The CARES Act, meanwhile, extended benefits by 13 weeks to up to 39 weeks in total.
Benefits could be benchmarked to a state’s unemployment rate, to specific shutdown or stay-at-home orders, or to states’ economies being relatively open or closed, Aaronson said by way of example. “Setting in place some benchmarks where benefits would automatically kick in is really a better way to go about this, because then people get the resources they need and are less subject to political vicissitudes,” she added.
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