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14 million workers face losing unemployment benefits at the end of December

Finance
Capitol Building in Washington, D.C.DEA / M. BORCHI | De Agostini | Getty ImagesNearly 14 million American workers are collecting unemployment benefits through programs that will lapse at the end of the year without congressional action.Expiring aid would leave many without income at a time when protections for renters, homeowners and student loan borrowers are scheduled to end, applications for unemployment benefits are rising and elevated Covid-19 infections threaten to hobble more businesses.Zoom In IconArrows pointing outwards"The risk to the economy right now is just too high to let people run out of these benefits," said Andrew Stettner, a senior fellow and unemployment expert at the Century Foundation, a progressive think tank.CARES Act unemploymentFederal lawmakers strengthened pro...

Yes, you can get unemployment benefits if you’re laid off again. Here’s what you need know

Finance
A store displays a sign before closing down permanently in Arlington, Virginia.OLIVIER DOULIERY/AFP via Getty ImagesState and local officials have begun closing some businesses to counter a new surge in coronavirus infections, potentially putting Americans out of work for the second time since the spring.Delaware and Nevada are among the states where officials are re-imposing some restrictions on non-essential businesses. Rules have also tightened recently in California, Illinois and Virginia.Meanwhile, other regions may not be far behind.The U.S. continues to notch record Covid-19 infections, with the national seven-day average of daily new cases hitting 170,855 on Sunday, according to a CNBC analysis of Johns Hopkins University data.Zoom In IconArrows pointing outwardsBut there's a silve...

Unemployment claims are falling. But that’s not necessarily because people found work

Finance
Volunteers distribute food to the needy in Orlando, Fla.Paul Hennessy/NurPhoto via Getty ImagesClaims for unemployment benefits are falling. But it's not all because people are returning to work.Instead, many workers may be running out of jobless benefits altogether or falling through the cracks of the system, according to labor experts.Even the unemployment rate may be artificially low, since millions of unemployed workers likely aren't being counted by official statistics, the experts said.More from Personal Finance:The biggest money mistakes people makeBiden's platform calls for big changes to Social SecurityVanguard says the median 401(k) withdrawal was $ 12,000 amid coronavirusThese are important distinctions as policymakers gauge the vigor of the economic recovery and weigh the nece...
Unemployment hits three-year high amid most redundancies since 2009

Unemployment hits three-year high amid most redundancies since 2009

Business
Unemployment rose to a three-year high over the summer and there were more redundancies than any time since 2009, official figures show.The jobless rate climbed to a larger than expected 4.5% in the three months to August, up from 4.1% a month before, as the coronavirus crisis took a further toll on livelihoods. That was the highest since April 2017, while the total number of unemployed climbed by 138,000 to 1.52 million - also the highest since early 2017 - according to the Office for National Statistics (ONS). There were 227,000 redundancies in the period, the highest level since the financial crisis in 2009 and twice as many as in the same three months of last year.The ONS figures showed the number of people in employment fell by 153,000 in the three months to August, much more than...