Unemployed Americans are spending more than when they had jobs, thanks to Covid-19 benefits – JPMorgan

Additional financial

Additional financial aid given to those who lost their jobs amid the coronavirus outbreak has boosted spending, with Americans buying more than when they were working, recent research has found.

US citizens are eligible to receive an extra $600 in weekly payments until the end of July, in addition to their regular unemployment benefits, under the CARES Act – a federal relief law aimed at helping households to weather economic hardship during the pandemic.

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