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Monday, August 15, 2022

Stimulus Checks’ Fate Through Unemployment Rate  

The biggest question floating in the air of the United States of America is whether there are possibilities for the federal government to provide the people with the fourth round of stimulus checks or not. However, if looking through the eyes of the unemployment data, the chances of the federal aid payments are lessening day by day. The national unemployment rate recorded in the month of July was 5.4%. The figure that was taken in June was 5.9%. Though the difference is not much, however, this is the first time the country has witnessed such low levels of unemployment since the onset of the coronavirus pandemic. Read further to get a clear idea of the connection with the stimulus checks. 

Stimulus Check’s Critical State

The addition of new jobs in the country was generated as the jobless rate started going further down. A total of 943,000 fresh jobs were introduced in the country. The industries that generated the most number of jobs were hospitality and leisure. Even small businesses began hiring more employees. The rate of hiring increased at a great rate for the months of June and July. And all these reasons mean that the economy of America might be recovering. This further means that the chances for the availability of the stimulus check payment are only diminishing with time. 

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However, the one thing that can change the fate of everything is the ongoing Delta variant of the coronavirus. Though the economy is improving, if the infections start spreading to a great extent then the government might yet again introduce strict mandates in the country that might have a direct effect on the economy like before as well as the new round of federal aid payments. If this takes place then the availability of the stimulus checks will be absolutely necessary.

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