Over 30 million workers have filed unemployment claims since March this year. In addition to standard unemployment benefits, those that were not previously eligible for unemployment (the self-employed or those that have run out of their regular state-provided UI benefits, those that cannot prove employment attempts, and those with minimal employment history) are now eligible for the minimum $600 CARES Act unemployment benefits, titled “Pandemic Unemployment Assistance.”
That’s more than minimum wage.
These benefits were intended to help a challenging situation, but they have had some unintended consequences. Employers are now in direct competition with the federal government when looking to hire new employees.