Consumers have been suffering from inflation for over a year. And many individuals are now sick of having to deplete their savings and run up debt on credit cards to take care of necessities like paying their rent and putting food on the table. The federal administration did not provide any stimulus aid last year, but some states stepped up to provide aid by sending relief cheques to eligible individuals. However, if you’re asking whether a stimulus check in 2023 is likely, the response so far appears to be “no.”
Issuance Of Stimulus Payments At Various Stages
In the past, when unemployment was high and the economy blatantly needed a boost, policymakers went for stimulus payments. The Great Recession, which ran between 2007 and 2009, & the pandemic both saw the issuance of stimulus payments at various stages. The economy had already recovered from the epidemic by 2022, which is why stimulus checks were not necessary. Throughout the entire year 2022, unemployment was low. And while some analysts might have worried that unemployment rates would commence rising in 2023, so far, that hasn’t happened.
Federal Stimulus Isn’t Coming Any Soon
Indeed, the Bureau of Labor Statistics has recently made available information for the week ending January 14. The number of weekly unemployment claims that week was 190,000, which was 15,000 fewer than the week before. Overall, the 4-week rolling average for unemployment claims dropped from the previous week’s 212,500 claims to 206,000 claims. That is to say, the unemployment rate has not increased in January. Of course, 2023 isn’t finished yet, & a lot might happen in the upcoming year. The fact is, though, that consumers shouldn’t anticipate a federal stimulus check any time soon based on the jobless figures we now have.
If you’re experiencing a difficult time paying your expenses owing to inflation, you’re not alone. But before you give up on trying to make ends meet by spending all of your funds or piling up debt, consider other options. That can entail making a few budgetary adjustments or starting a side business. A stimulus check might not be forthcoming any time soon. Therefore, the best chance for those who are having trouble is to use their creativity to manage their money and look for other ways to make money reports Nasdaq.
Related Stories:
Stimulus Checks 2023: What To Anticipate In California and New Mexico
Stimulus Checks Might Not Be Implemented In 2023
US Jobless Claims Fall to 242,000, Biggest Drop Since 2021
4th Stimulus Update: The Current Status Of The 2023 Stimulus Checks
Stimulus Checks 2022: You have just one week to claim a stimulus check worth up to $1,200 – how to get your money
IRS To Cease Sending Stimulus checks in 2023
More Cash for Americans: 7 States That May Offer Stimulus Checks in 2023
IRS Data Reveals Americans To Have Smaller Stimulus Checks in 2023
