Nov 23, 2020
When extra COVID-19 benefits vanish for New Year’s
The restaurant and hospitality industries have experienced plenty of turnover.
Nicholas Kamm/AFP via Getty Images
Part of this year's federal relief for the pandemic is set to come to an end. Plus, people are traveling this Thanksgiving holiday despite all warnings not to. And, more Americans are losing sleep over their financial situations.
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Special pandemic unemployment benefits are set to expire the day after Christmas. That could mean more cautious spending this holiday season.
Combine that expiration of benefits with rising COVID cases and stricter regulations and it’s not a great picture for the economy. Julia Coronado, founder and president of MacroPolicy Perspectives, says “about 12 million people receiving those benefits stand to lose them the day after Christmas, so this could affect people’s mindsets going into the holidays.” Coronado also said we don’t know a ton about what hiring has looked like in November, although we typically see a lot of new jobs for retailers this time of the year. “We’re probably not going to see as many of those jobs, but we could see some offset with warehouse and delivery workers being added ahead of the holidays,” she said.
More people are flying, even as CDC warns against travel this Thanksgiving
Marketplace’s Nova Safo reports.
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The team
David Brancaccio
Host
Victoria Craig
Host, BBC
Stephen Ryan
Senior Producer, BBC
Jonathan Frewin
Producer, BBC
Daniel Shin
Producer
Jay Siebold
Technical Director
Meredith Garretson Morbey
Senior Producer
Alex Schroeder
Producer
Erika Soderstrom
Producer
Rose Conlon
Producer
Brian Allison
Technical Director
