With unemployment hitting the ceiling across the United States, a fourth stimulus check is becoming a possibility. This is according to data and figures from the jobs report of July. Since the beginning of this pandemic, the household has been receiving a total of 3 series of stimulus checks. Now it seems the time has come for a fourth stimulus check.
But Joe Biden, President, The United States of America, hasn’t yet confirmed this 4th series of additional cash. The figures corresponding to the unemployed Americans for the long-term managed to rise by a whopping 233,000. The figure at this moment stands at four million. In May, this figure declined by over 430,000. This is according to the report of AS. At this moment, 5.9% is the rate of unemployment. During June, around 850k jobs were created. If this rate fails to decline throughout the months of summer, then the economy of the US won’t be able to welcome everyone back who ended up losing their jobs.
Experts Think That A Fourth Stimulus Check Is Unnecessary!
The effects of the Coronavirus pandemic still looms strongly in the US economy. However, the experts think that Biden won’t be able to introduce the fourth stimulus. CBS received a comment from Yeva Nersisyan, professor, Economics, that the House should deeply check the performance of the US economy before introducing the additional series of stimulus checks.
She believes that a lot is yet to be seen regarding providing the struggling Americans some assistance before introducing the fourth stimulus check. With the rates of vaccination going up and the performance of the economy improving, there is still a possibility of the fourth stimulus check. Experts think that the checks will drain the economy.
