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Saturday, May 21, 2022

How Your Stimulus Check Can Get Affected By The July 2021 Job Report!

The job report of July 2021 can really affect your stimulus check. The job report of July 2021 turned out to be very positive news for the nation’s economy. The rate of unemployment across the country decreased significantly. 

The Job Report Of July 2021 Decreases The Possibility Of Another Stimulus Check!

On Friday, the Department of Labor released a monthly report. The report contains the data regarding the number of people currently working across the country in addition to their hourly earnings on average. This report is a very crucial one because of the recent high inflation that the country is going through! Your upcoming stimulus check seems to be in danger.

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The promising news released by the Department of Labor has decreased the probability of you getting another stimulus check. The nonfarm payrolls witnessed a rise of 90,000. In June, the number was 850,000. The recent nonfarm payrolls stand at 943,000. So, there is a very positive trend regarding the growth of jobs across the country. However, this is bad news for your stimulus check. 

During April, around 269,000 jobs were added. Around May, there had been a further addition of 583,000 new jobs. This all looks very promising for the economy. Since 2020 August, this number remains the largest number of jobs created in the country. Employers managed to add around 1.6M new jobs. In July, another 1M jobless Americans found new jobs. The rate of unemployment now stands at 5.4 percent. The rate got lowered by 0.5 percent from June. However, there were 5.8M more jobs in February 2020. So, the rate of unemployment hasn’t recovered fully. All of this decreases your chance of receiving another stimulus check this year! 

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