Is the delta variant hurting the country’s economic recovery? Jobless claims signify it might be
Cases of the delta variant are on the rise across the country, and it looks to having an effect on the economic recovery.
Jobless claims in the United States rose to 419,000 from a pandemic low even as the job market appears to be rebounding. Economic development consultant Marty Cantor answered your financial questions on The New Normal.
Recent legislation gave parents the largest Child Tax Credit ever, but some are wondering if they should opt out to avoid a tax surprise next year. Cantor says the Child Tax Credit will only hurt a taxpayer if their income becomes too high.
While some people are OK with the Child Tax Credit, they are wondering where relief is for seniors in all of the legislation. Cantor says seniors have been left in the cold and much of the legislation.
Federal unemployment is set to end in September, but there has been no word regarding New York State benefits. The state has not yet extended benefits, but Cantor says he wouldn’t be surprised if they did.