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Friday, September 30, 2022

Stimulus Check News: The Dropping Unemployment Rates Makes The Fourth Check Less Likely

It seems that the fourth stimulus check might be unlikely to arrive in your bank accounts. For weeks, new jobless claims have been falling steadily, so economists expected good news which was not disappointed by the data provided.

The national unemployment rate fell to 4.6%. That’s down from 4.8% in September, and it also represents a pandemic-era low.

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The growth of jobs has exceeded the economists’ expectations as there were 531k new jobs in October.

The Drop Of Unemployment Sees A Drop In The Chances Of A New Stimulus Check

Just as significantly, long-term unemployment fell by 35k in October. And while there were still about 1.2 million more people unemployed on a long-term basis in October compared to right before the pandemic, to see that number drop is a positive thing. The job reports gathered in October were worth celebrating but there was a potential downside to that, It is now even less likely that the citizens will see a fourth stimulus check hit their bank accounts anytime soon.

Even before releasing the jobs data, the arrival of the fourth stimulus checks was bleak. But for now, it is fair to say that the residents can write the stimulus checks off from 2021 and look forward to 2022.

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Still, that doesn’t mean Americans are totally out of luck as there are other sources of cash that may still be coming some people’s way.

While another stimulus check is unlikely this year, parents can still look forward to 2 separate windfalls in November and December. That’s when the final two monthly installments of the boosted CTC will be paid. Furthermore, parents who have been getting installment payments will also be eligible to collect the remaining 50% of the boosted credit.

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