The United States Congress and the Capitol Dome in Washington DC with cash and check to illustrate the coronavirus … [+]
Americans have passed their first round of stimulus checks included in the CARES Act. But the recent appearance of coronavirus It has limited the process of economic reopening in the United States, and Americans desperately await a second round of stimulus controls. The big question among them is whether the HEROES Act passed by the House will receive a rubber stamp from the Senate. Donald Trump said Fox Business that their view of the second stimulus control is “bigger” than that of the Democrats. This was Trump’s boldest statement on the second stimulus control subject to date, making people wonder if the second stimulus control would be greater than $ 1,200. Some hope there may be monthly stimulus checks, given the fact that most Americans are out of work.
The US jobs report released today confirmed that the employment situation had improved again for the second month in a row, and the fact is, you can’t keep waiting for another round of stimulus checks or payroll protection programs as the recovery in the labor market is strong.
(Photo by Joe Raedle / Getty Images)
Current stimulus programs: HEROES Act and other stimulus control proposals
The $ 2,000 monthly stimulus verification proposal would be the most unlikely scenario, regardless of whether Trump said he supports the stimulus verification program. Payroll tax exemptions and similar tax reduction programs are likely to elicit a more favorable reaction.
June payroll report and a second stimulus check
US payroll data determines what may increase the odds of a second round of stimulus checks and who will qualify for one.
The US nonfarm job change number confirmed today that the US economy is making a strong comeback. The United States job market created 4.8 million jobs against a forecast of 3.03 million when the previous month’s number was 2.69 million.
The US Payroll Protection Program received good news today as the US unemployment rate fell to 11.4% from the forecast of 12.4% when the previous reading was 13.3%.
All of the above confirms that things are improving for Americans. Because employers are hiring more than expected, the chances of getting your job back are higher. This also means that the odds of increased stimulus controls may have partially evaporated, but they are still there..
Stimulus Control Expectations: The unemployment rate in the United States falls to 11.1% and this is fading. Americans hope that … [+]
Why do we still need a second round of stimulus checks?
We still need more stimulus support for Americans because we also had the US Initial and Continuing Unemployment Claim Data today The initial unemployment claim data was worse than expected, 1.43 million reais, forecast of 1 ,35 millions. There was also an echo of this in the continuous claims data, 19.3 million reais, forecast of 19 million. Both data points, initial and continuing unemployment claims, are unlikely to drop anytime soon.
Stimulus checks: Initial jobless claims are declining and therefore continuing jobless claims. American economy … [+]
Second stimulus checks and bankruptcies
Bankruptcies in the US have started to accumulate, mainly in the energy and retail sectors, and are now at their fastest pace since 2009. The fact is that the more bankruptcies we have, the more difficult it will be to reduce the rate double digit US unemployment number.
Trump’s support for “bigger” stimulus verification must be taken with care
In his Fox Business interview, Trump mentioned the “return to work” bonus. He favors this over other unemployment benefits or a payroll protection program. Trump’s support for the second stimulus check should be viewed with caution because during his interview, he said, “You would earn more money if you didn’t go to work.” That is not what this country is about. We want to create a great incentive for people who want to go back to work. ”
This is the right approach, and this issue is likely to have a higher priority in the coming days. There is a good chance that second-stimulus controls will supplement the bonus payment for American workers to return to the workforce. But it is up to Congress to make the final decision.
Will Trump get $ 2 trillion in stimulus?
Congress plans to vote on a new stimulus program this month. The current month’s unemployment number will be a critical factor in your vote on stimulus controls and the stimulus program. Congress will pay attention to the U.S. workforce market, confirming that Americans need more help, but not necessarily a larger second round of stimulus verification.
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