In March 2020, almost 40% of low-income workers lost their jobs due to the nationwide lockdown that caused massive layoffs and furloughs.
Now, reports have surfaced, noting that 40% of workers who were laid off due to the pandemic may make more money while unemployed during this time. According to the director of the Center for Research on the Wisconsin Economy at the University of Wisconsin-Madison, 40% of all workers could earn more while unemployed than if they were at work. The results reportedly stem from the $2.2 trillion economic relief bill, which was passed in March 2020. The law allegedly raised unemployment benefits to the highest its been since the unemployment program was made in the 1930s.
The CARES Act reportedly raised weekly benefits and increased the duration of the benefits. The benefits were also extended to the self-employed and found the government adding an extra $600 per week to recipients of unemployment. However, the $600 weekly payments are ending after July 31, according to reports.