|COVID-19 Related News and Your Personal Finances
Understanding your personal finances in a pandemic environment means staying up to date with all things COVID.
The Overall State of the Economy
Currently, the economy is slowly improving for several key reasons. First, unemployment claims are generally in decline
, meaning more people are returning to work. This matters since more jobs reflects a recovering economy and greater potential for consumers to spend money!
Second, many US households received some type of financial assistance in the form of stimulus payments and expanded unemployment benefits through the Coronavirus Aid, Relief, and Economic Security Act also known as the CARES Act. For college students, the CARES act provided emergency financial aid grants for expenses related to the disruption of campus operations due to the coronavirus. The added income helped provide some cushion when layoffs, furloughs, and unanticipated transitions were on the rise. There is still much uncertainty about economic gains in the coming months, so stay up to date!
For more information on economic recovery, visit the links below