Survey: 1 In 2 Unemployed Americans Will Be At High Risk Once $600 Fed Checks End
33% fear not being able to find a new job
SAN JUAN — Ahead of the end of the federal government’s weekly $600 unemployment checks July 31, Coupon Lawn, a coupon code website, conducted a survey that found 50% of respondents believe they will be at high financial risk.
On July 6, the discounts website surveyed 1,059 unemployed Americans to ask about their reactions toward the expiration of the $600 unemployment insurance.
“The expiration of the checks, slated to happen by the end of July will raise issues upon the beneficiaries which, in turn, will deeply impact the economy as a whole. 49% of the unemployed Americans believe their finance would be AT VERY HIGH RISK if the $600 stimulus checks expire on 31 July,” according to couponlawn.com.
“A large percentage of the respondents say their expenses go to household bills, including electricity, water, and Internet bills. A small amount of their weekly budget is allocated for child care,” the website reads.
The reasons people are “clamoring to extend their insurance checks are varied”: 39% said they need the money to afford the living cost; and 33% are afraid that they won’t find a job as new cases are surging.
Fifty-nine percent of Americans are saying they would struggle to make ends meet now that the $600 stipend is probably ending on July 31, the website says, adding that the “expiration will decrease the purchasing power of the economy, since these unemployed Americans have been spending their allowances in both basic necessities and needs. Millions will be reverted back to receiving state benefits.”
The survey found that 59% of respondents would struggle to make ends meet; 30% might have big debts; 17% would lose the motivation to work; and 5%might have suicidal intentions.
“The survey was launched on MTurk with the target location set to the U.S. We chose the Approval Rate above 95% to ensure the quality of the survey results. Within the survey questions, we also used the qualifying question to exclude the answer from those who are not unemployed Americans.
“As the survey is based on self-reporting, please expect small telescoping and exaggeration. However, the data is reported transparently and we commit to being responsible for the authentication of the survey results,” the company said about its methodology.