DALLAS, TX (KDAF)- COVID-19 continues to surge throughout the summer, and the financial shifts it has caused will continue to take a toll on people.
Peter Dunne from Pete the Planner explains the financial cliff that he predicted earlier on that might happen in July.
“What’s going to happen here is the unemployment benefits, the enhanced unemployment benefits, the extra $600 a week that the CARES act brought, it runs out at the end of July. The unemployment rate is still low, so you’re going to have benefits ending, no jobs to be had. So it is going to be a cash cliff so to speak.” Dunne explains.
The younger generation is content with their unemployment benefits, explaining that they are making more through that than actually going into work. The older generation, on the other hand, would much rather have a career and a job than short term benefits.
Peter explains how the government typically gives people less unemployment benefits to encourage them to go out and achieve a job and career, however, Dunn doesn’t believe that this is the right climate to do so.
“I think what’s going to happen next is is in the next week or two weeks we’re going to see congress come together and do something to extend the benefits.” Dunne says.
To learn more about Pete visit his website at https://petetheplanner.com