Unemployment Compensation news and trends

IRS Says US Unemployment Comp Hit $405B During Pandemic

November 20, 2022
IRS, Internal Revenue Service
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IRS Says US Unemployment Comp Hit $405B During Pandemic

November 20, 2022
Unemployment compensation in the U.S. jumped by 1,794% between 2019 and 2020 as Americans were hit by a wave of layoffs during the COVID-19 pandemic. That’s according to a report by the Internal Revenue Service showing that unemployment compensation rose to $405 billion in 2020, compared to $21.9 billion in 2019. Meanwhile, total incomes rose […]