Unemployment rates are not decreasing any time soon due to many people out of work because of COVID-19.
The numbers on COVID-19 are rising daily which puts fear in wondering how they will pay their bills.
Mostly everyone is filing for unemployment, however, the money is slowly going down and only lasts up to six months. The hard questions come into play on where those people will go after their benefits run out.
They don’t have jobs to go back to because COVID-19 caused them to close down. Even if they go back to work, they now have reduced hours.
According to Dave Cantrell of American Family Funding, there are close to a million people coming off unemployment, so where are they going? Fred Arnold of American Family Funding responds to his question by saying that people are going to PUA (Pandemic Unemployment Assistance).
Related Article: What could reduce the housing inventory shortage?!
Fred says that the PUA started due to the coronavirus and what is great about this is that it lasts up to nine months. People can apply until December if they decide to extend it or not and this allows people to receive $800 a week. Another perk is that they won’t have to work until the following year of September.
Slowly everyone is applying for PUA once their benefits are gone from unemployment.
For parents it is harder for them to work due to their kids not being able to go back to school. Especially if their children need extra attention due to a disability. Now they have two jobs and the parents’ question if they should go back to work.
“I’ll take reduced hours… I’ll stay unemployed,” Dave says as a response to parents.
This does not have to be parents but single individuals because they either can’t go back to work yet or there are no jobs. They have no choice but to stay on unemployment.
“If you have a job keep it. Ask your boss how you can improve,” Dave tells us if the individual wants to move up in the company during the pandemic. It is not a good idea to job hunt if you already have a secure job.
Santa Clarita mortgages lender American Family Funding can help you fulfill your dream of home ownership. A highly rated Santa Clarita mortgages lender, American Family Funding maintains a focus on community involvement and a commitment to giving back whenever possible. A friendly mortgage advisor will make the first time homebuyer experience an easy and stress-free experience — even with bad credit or a low down payment. The Santa Clarita home loan officers at American Family Funding also specialize in VA loans, reverse mortgages, refinancing and the STAR Loan Program.
American Family Funding Recent Articles:
Unemployment rates are not decreasing any time soon due to many people out of work because of COVID-19. The numbers…