Hello everyone, and welcome to our American Finances Updates live blog this Thursday, July 21, as we continue to provide you with all the information you need to stay informed about benefit schemes in the United States of America.
Although the federal government is no longer providing stimulus funds on a national scale, several states are still taking matters into their own hands.
This week, four states are distributing stimulus checks, and we’ll discuss them as well as the other benefit programs in place in the United States.
Remember that, as with our daily financial blogs, the most recent updates are at the top.
Jobless claims return to the surface
According to Labor Department data released on Thursday, initial jobless claims reached their highest level since mid-November last week, the most recent indication that a historically tight labour market is beginning to loosen.
There were 251,000 claims for the week ending July 16, up 7,000 from the previous week and exceeding the 240,000 Dow Jones estimate.
The increase pushed the number of applications for unemployment insurance to its highest weekly level since November 13, 2021, and provided yet another indication that the hot job market of 2021 has begun to cool this year.
The number of continuing claims, which are calculated one week after the headline figure, increased to 1.384 million, the highest total since April 23.
According to CNN, the phenomenon known as ‘Greedflation’ may continue to rise, as the rich get richer and the rest of the population appears to have less money to spend with each passing day.
In the United States, unemployment is increasing.
Last week, the United States saw the highest number of job applications since November 2021.
The US Department of Labor reported 251,000 seasonally adjusted jobless claims in the week leading up to July 16, which is 5,000 more than the previous week.
Amazon is paying $3.9 billion for Medical One.
Amazon will buy One Medical, a network of boutique primary-care practices, to expand its presence in the healthcare industry.
Amazon recently launched an online pharmacy and offers telehealth services through Amazon Care.
In this transaction, they will pay $18 per One Medical share in cash, bringing the company’s valuation to around $3.9 billion.
Workers put their health first. According to new research, more than 4 million American workers have left their jobs in the United States this year, and the trend does not appear to be slowing down anytime soon.
Meanwhile, according to a report released last week by McKinsey and Company, approximately 40% of workers are considering quitting their jobs in the next 3-6 months.
UBI Program: Learn about a pilot program for up to $12,000 in financial aid.
UBI stands for Universal Basic Income, and it is used to keep people living at a cost that is higher than the poverty line.
The government decided to create a program that currently provides assistance to approximately 36 states across the country. In many of these cases, the UBI program can provide Americans with up to $12,000.
When should you expect your tax refund, and how much extra does the IRS owe you?
The Internal Revenue Service (IRS) reported that more than 145 million returns were received this year, with more than 96 million refunds issued, as it processed approximately 97 per cent of total returns.
The IRS has a tracking tool that you can use by entering your Social Security Number or Individual Taxpayer Identification Number, as well as your filing status and the amount of your refund.
Summer Payments: Which states are still sending checks?
With inflation at a 40-year high, several states in the United States are still providing residents with stimulus checks to help them deal with the potential consequences.
The majority of the proposed plans and rebates are directly related to middle and low-income residents, though, in some states, the timing of a resident’s tax filing will also be a criterion.
Which states are still sending Summer Payments checks?
California Gov. Gavin Newsom and state lawmakers have authorized the distribution of inflation relief checks worth up to $1,050 to millions of California residents.
The payments are funded by California’s 97 billion-dollar budget surplus and will be distributed as direct deposits or debit cards by 2023.
The amounts are determined by a resident’s income, household size, and tax filing status.
Summer Payments: What checks are being issued in New York?
In New York, approximately three million state homeowners will receive property-tax rebates of up to $1,050.
However, the average household income is around $425.
Jeff Chiu
Gas prices fell significantly in July, but high prices remain a concern for Americans.
Even though gas prices have fallen, they are still much higher than they were just a few months ago.
As a result, it is still worthwhile to shop around for the best gas prices, and we’ve compiled a list of the cheapest gas stations in the ten largest cities in the United States.
In addition, we outline the situation in the most expensive and cheapest states for gas.
UBI Payments Update: How will this new State Program function?
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Several Des Moines, United States, residents are in line to receive 12,000 dollars in monthly payments over two years.
The Central Iowa Basic Income Pilot (BIP) Project has been approved by the district council, with the program receiving 500,000 dollars in funding so far. It is just one of several schemes in the country.
How does the UBI Payment System work?
While the program is intended for low-income residents, the exact income threshold has not been specified.
