Losing Federal Unemployment

Every summer, high school students rush to get a job, but most of the jobs have already been taken by the time summer begins. This is because the smart high-schoolers anticipate the summer job crunch and fill those jobs early. High schoolers who procrastinate have to settle on a less desirable position or get creative on how they spend their summers.In less than one month, the federal pandemic unemployment benefits will expire. Kenadi Silcox from Money Magazine says that “there are currently no official plans from congressional leadership to extend the pandemic unemployment programs or introduce new legislation.”So, when those benefits end, there may be a flood of able workers rushing to fill a smaller amount of desirable jobs. Like hundreds of high-schoolers looking for just a few summer positions, workers who procrastinate to jump back into the job market may struggle to find employment because so many people will be applying for those same positions.If you’re currently relying on federal pandemic unemployment benefits, it may be a smart move to jump back into the employment market sooner than later so that you have first pick of the available jobs. No matter what you do, try to squirrel away as much as you can in savings because things may be bumpy for a while.