Federal Pandemic Benefit Programs Expire

Over the Labor Day weekend, five federal enhanced unemployment benefit programs that were enacted to counter the economic downturn due to COVID-19 expired. These benefit programs included the Federal Pandemic Unemployment Compensation (FPUC) plan, which funneled an additional $300 in weekly funds to regular unemployment recipients. As a result of this expiration, 11 million recipients were impacted, while roughly 7.5 million recipients lost their benefits entirely. 

This is not news in many states, where governors preemptively ended the aid due to claims that the benefits were disincentivizing otherwise eligible individuals from seeking work. 

On a national level, as a direct result of these changes, economists are forecasting an immediate uptick in the number of job seekers actively seeking employment. However, the recent rise in COVID-19 could signal new quarantine restrictions and, in turn, additional layoffs.  

Should you do business in a recently impacted state, you may notice an immediate and significant increase in applicants to your applicant tracking system. If you have any questions or wish to discuss your hiring needs and strategies, please reach out to your Client Experience Manager for assistance.