What Happens Then?
The U.S. The government estimated that in mid-July, approximately 9.4 million Americans were receiving benefits from the Pandemic Unemployment Act (PUA), or the Pandemic Unemployment Emergency Compensation (PUEC) program.
The designing of PUA is made for those citizens who lost wages as freelancers or gig workers and did not qualify for unemployment insurance under the normal pre-pandemic programs, while the designing of PEUC was done to prop up those citizens who have exhausted their 26 or 39-week unemployment benefits extended through normal unemployment insurance programs.
The overall unemployment rate at the end of July 2021 was 5.4 percent, lower than it was at the height of the quarantining and social distancing behavior in 2020 but still above the 3.5 percent reported in February of 2020 before consumers began to react to the pandemic. The difference in the number of jobs between February 2020 and July 2021 was 5.7 million. The people who held those jobs previously remain out of work, and soon will be out of federal benefit resources.
What Do They Do Now?
The federal government has done everything it can for those people who experienced unemployment due to the coronavirus. But a majority of states offer extended unemployment benefits to those who qualify. Visit the website you used to apply for unemployment benefits and search for “extended benefits” to find out if you qualify.
Contact Mortgage Companies or Landlords
The moratorium on evictions of renters extends up to October 3, so you have a few more weeks to acquire funds and avoid eviction. But, there is benefit in having a conversation with your landlord now to determine what will happen on Oct. 3 if you are still in arrears and cannot make your rent payment.
Almost every state in the union provides emergency rental assistance as well. Look up the information for your state and begin the application process now rather than wait until eviction is days away.
If you have a mortgage and have been under pressure to make mortgage payments, contact your lender to see what assistance or advice it can offer. The Federal Housing Finance Agency has a list of mortgage relief and assistance programs in every state. Again, you want to begin the process of applying for assistance as soon as possible.
Contact Credit Card Companies
When it became clear that the coronavirus was going to have a lasting impact on consumers, the Federal Deposit Insurance Corporation (FDIC) issued instructions to financial institutions which extend credit on how to work with borrowers to cope with financial hardships related to Covid-19. Many credit card issuers have detailed plans to assist cardholders who are suffering financial hardship. Your card issuer’s website should have a link providing phone numbers to call to discuss your particular credit situation.
Accept Assistance if You are Still Employed After All This Time!
You may have thought you would never need to go on a government assistance program such as food stamps, but these are unusual times and unusual circumstances. Your goal is to extend what money you have as far as you can, and one way to do that is to accept assistance where it is offered.
The Supplemental Nutrition Assistance Program (SNAP) is the source of food stamps, which provides assistance in the purchase of groceries.
Many communities offer assistance of this type as well, in the form of food banks or charitable group outreach programs. Your local library is likely to have a list of programs in your area. Local faith-based institutions are likely to know where you can look for additional assistance.
Get a Job – Any Job
You have been looking for work in your field of expertise ever since you lost your position due to Covid-19 layoffs and firings. It is probably not your fault that you have not found what you are looking for.
In order to survive until that right job comes along, you should consider working in a job that you deem to be “below’’ you. Whether it is a retail position or one in food services, employers are looking for reliable employees. You are not going to make a lot of money, but you are at least going to receive a paycheck; and it will help you stay on your feet, financially, until that proper job comes along.
This is actually a relatively good time to work in those low-wage occupations. The revolution of workers has altered the landscape for low-wage positions; and employers are extending previously unseen benefits to workers; including tuition assistance for college attendance or bonuses for accepting jobs or staying in a job for a predetermined period of time.