The American economy may need 5 times more money than legislators suggest to return to pre-COVID-19 levels. In order for American businesses and workers to work at full strength, and the real unemployment rate to fall to 3.5%, a stimulus package worth from 3 to 4.5 trillion will be required. Doll.
The current unemployment rate in November is 13%, although the official unemployment rate for November was 6.7%, the real number is much higher considering the decline in economic activity since February.
Unless a stimulus agreement is reached by the end of the year, up to 12 million Americans are expected to lose their unemployment insurance coverage when the two CARES programs expire on December 26.
Federal moratorium on evictions, paid sick leave, state and local government aid, among others, will also end