Dr. Chhoda compares the unemployment benefit system in the United States and compares it with the $2000/month in Canada under the CERB program.
Compared to Canada, unemployment benefits in the United States pay more and last longer because:
1. $2000 CAD is equivalent to $1531 USD. The average state benefit in the United States is $333 a week, which is $1332 a month PLUS the federal booster (previously $600/week for several months, currently $300/$400 a week since 45 states have been approved and 5 states have started paying)
2. The $600/week federal booster was stacked ON TOP OF the state unemployment benefit system until July 31, 2020 providing a grand total of $4000 a month (average) from April through July 2020 (in Canada you can have EITHER the state benefit OR the $2000/month CAD – the two CANNOT be stacked)
3. The Canadian $2000/month under the CERB program lasts for a maximum of 28 weeks, but the state benefit in the US lasts for an average of 39 weeks (including extended benefits)
4. The Canadian $2000/month ends on October 3, 2020 but the US PUA program lasts until December 31, 2020.
TABLE OF CONTENTS
0:00 Comparison of US’ and Canada’s Unemployment Benefit System
1:18 Canada Emergency Response Benefit (CERB)
3:24 Average Unemployment Benefit in US
5:58 Canada’s EI Regular Benefits VS. CERB
9:24 US Unemployment Benefit System is Better than Canada’s Benefit System
Managing your Money Crash Course
Unemployment Benefits Crash Course