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Igel

(37,441 posts)
7. The extra $600 a week in the CARES Act will go a ways to help that problem.
Thu Apr 9, 2020, 11:08 AM
Apr 2020

$600 per week, assuming 40 hours of work per week that's $15 an hour.

If your benefits are otherwise at 1 cent, you're already at "living wage".

If I went for unemployment, I'd get 44.6% of my gross pay in unemployment benefits where I live because my pay is so far above minimum wage and benefits are not so much means tested as means tempered--my income so exceeds maximum benefits that I could have lower gross pay and still get the same weekly dollar amount.

With the added $600/week, that's 96% of my gross pay. I never see my gross pay amount, if only because of payroll taxes.

If I made $20k less per year, $40k/year, I'd still get the same weekly unemployment benefits. But with the added $600 I'd be receiving 120% of my gross pay.

That's only good through 7/31/20, then the $600 unemployment stipend ends.

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