The consumers of America have spent pretty lot this year even with the rampant inflation that happened this year. This whole year, a lot of people have kept emptying their savings account in the bank and have also piled up their credit card debts just to keep maintaining their living costs in the country.
What made 2022 more difficult is the fact that even though people expected a few more stimulus check payments from the national gov this year, they did not receive any. The federal government has sent their last round of stimulus check payments last year as they approved those payments in early 2021.
However, the national government had their own reasons not to extend the payments of stimulus check as they felt more free money will not be needed for the taxpayers. However, even though it might change in 2023, it is going to stay on some key numbers.
The Stimulus Check Payments, And Upon What Factors Their Status Might Change?
In early 2021, the unemployment rate of the nation was only at 6%. The inflation didn’t start to rise when the federal lawmakers started to distribute these stimulus checks. To put it into a context, in early 2020, when the pandemic hit the market, this rate was as low as 3.5%. However, after the pandemic, this rate hiked to the peak of the mountain at 14.7%.
The unemployment rate was nearly 2x high when legislators decided to give stimulus check payments in March 2021 as compared to just prior to the outbreak. However, unemployment has indeed been low this year.
Thus, if the numbers stay as it currently is, the federal government will again pass on the opportunity to provide stimulus check payments for the taxpayers.