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Time’s Up on These Unemployment Benefits. Should They Be Extended?

The pandemic has many people down and out. Our economy, communities and society as a whole are all different than they were a year ago. But is there a way to relieve all that has been changed so suddenly in our lives? The government stimulus and unemployment packages have done a lot to keep people afloat during such a trying time. However, the unemployment packages that many people who are down on their luck are using to afford life’s necessities are ending. Should these benefits be extended? 

The challenges aren’t over yet

The ending of the pandemic is still not on the horizon. Even if the virus was to disappear into thin air, it has done a lot of irreversible damage to people’s bank accounts. When the first deadline was set for unemployment packages to end, there was no way of knowing if we’d still be in a pandemic. The job market is growing stale, and prospective employees are having a hard time finding even a temporary job to make ends meet. Unemployment benefits are a necessary part of keeping them afloat as they look for their next career opportunity. 

The economy relies on people working

However, if their unemployment packages supply people with enough money to survive, what is their incentive to work? The economy relies on people working. The economy depends on people trying to build up their small businesses, chase entrepreneurial dreams and create competition in the market. If there is no drive to work, then many necessary services and industries will struggle without a workforce. If the unemployment benefits are extended, should we beef up the restrictions to make sure people aren’t collecting money without trying to find a job and give back to the economy themselves? Find out on this edition of the Millennial Minute.

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