We’re four months into our brand-new pandemic-altered reality, and while professions straddle the line between reopening and shuttering( again ), numerous Americans are finding their jobs no longer exist. Last week, 1. 3 million Americans applied for unemployment insurance for the first time. Self-employed, independent contractors and gig economy workers — a vital and burgeoning contingent of today’s workforce — remain especially being hit.
Is there a lamp at the end of the passageway? It depends on who you ask and how you approach it.
Nearly 13 million Americans are receiving unemployment benefits via the Pandemic Unemployment Assistance( PUA) curriculum, which aims to help gig economy workers and those not traditionally eligible for unemployment benefits. PUA recipients make up 41% of the 31.5 million total unemployment benefit recipients nationwide as of June 13, according to recent Labor Department statistics.
Even with these guardrails in place , not everyone is benefitting.
The racial difference workforce problem
For Black Americans, long-standing racial bias have constituted the financial impact of COVID-1 9 even more extreme. According to the Pew Research Center, 44% of Black Americans are of the view that they or someone in their household suffered a responsibility or payment loss due to COVID-1 9, to report to 38% of white Americans. More than two-thirds of Black adults( 73%) said they did not have emergency funds to cover three months of outlays, while exactly 47% of grey adults said the same.
What’s more, an analysis of Labor Department data by the University of California, Santa Cruz obtained that more than 2 out of 5 Black small businesses and self-employed proletarians have been forced to shutter during the pandemic — well over twice the rate of white ventures.
At Steady, we’ve caused a platform that helps people meet high demand jobs, growth their income and plan for more financially stable futures. We recently opened up an emergency cash grant program as a result of the pandemic, and so far, 46.5% of our applicants have been Black.
Navigating the new employment market and how we’re helping laborers
It’s devastating to see American workers hurting and to so clearly witness how racial injustices are compounding that hurt. Steady recognizes how challenging life is right now and we want to serve as an immediate rich for those who need work and/ or added income.
Mint has long patronage parties in managing and optimizing their finances, so with all of the rigour brought on by COVID-1 9, it fixed ability to join forces with Steady to encourage personal fiscal empowerment for all Americans. On average, Steady representatives pay more than $ 4,000 per year in additional income and in response to COVID-1 9, we’re offering emergency cash concedes, telemedicine backing and rapid ACH cash sediments.
What the hell is the future maintained?
Pre-pandemic, we lived in a world where there were more chores than activity seekers, or at least a healthy 1:1 ratio. Now employees are striving in a macrocosm where there’s perhaps 1 responsibility for every 4 errand seekers.
Together with Mint, Steady is here to help everyone navigate these difficult times. We’re committed to empowering workers and helping people find jobs that are still in-demand and right for them. To get started and ascertain accessible work in your domain, download the free Steady app here.
The post Navigating the Current Job Market and Empowering Workers saw first on MintLife Blog.
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