January 24, 2021

Info IEC

Business & Finance Information

What Happens to Covid-19 Unemployment Benefits in 2021? Here’s What We Know.

Two pandemic unemployment programs used by 14 million people will end Dec. 26 and an...

Two pandemic unemployment programs used by 14 million people will end Dec. 26 and an extra $300-a-week in benefits won’t start unless President Trump signs into law a $900 billion aid package that extends the payments to workers—or Congress overrides a possible veto. Special pandemic-related programs and extra financial assistance have assisted workers who lost jobs during the coronavirus pandemic and related shutdowns.

More than 22 million jobs were lost in March and April at the beginning of the pandemic. Through November, about 12 million have been recovered.

Here is what we know about the status of the payment programs:

Which unemployment aid could end?

One program called Pandemic Unemployment Assistance has been available to the self-employed, gig workers and others not typically eligible for unemployment aid. The other, Pandemic Emergency Unemployment Compensation, provided up to 13 weeks of additional payments to individuals who exhausted other programs that pay benefits, such as regular state unemployment benefits.

Regular state programs aren’t affected. These programs, which typically run for 26 weeks, cover about 90% of U.S. workers.



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