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Unemployment aid is running out for millions: "People are going to become desperate"
Millions of unemployed Americans faced an income "cliff" in July when the extra $600 in pandemic jobless benefits came to an end. But millions more are now facing another — and perhaps more dire — hit to their income as they exhaust all their unemployment options at both the state and federal levels.
"People are saying, 'Oh my god, I'm running out of money,' and they have no idea what's to come," said Alex Emanuel, an actor, filmmaker and musician in New York whose unemployment aid ran dry two months ago.
The issue is affecting a range of workers, including people who lost their jobs toward the end of 2019 and have run through multiple unemployment aid extensions provided by Congress earlier this year. Gig-economy workers and others who tapped the federal Pandemic Unemployment Assistance (PUA) program early in the crisis are also about to run out of aid.
These benefits aren't particularly generous — the typical weekly unemployment check amounts to $333 a week — but out-of-work adults tell CBS MoneyWatch that the additional money has helped them pay for necessities like utilities and rent.
Unemployment aid is running out for millions: