As unemployment claims filed since mid-March totalled a staggering 30.3 million people, stocks racked up their best performance up nearly 13% in April since 1987.
2. Stocks still remain a good place to invest given their higher growth profile over the long term. In comparison to stocks, money market securities and bonds are safer but will provide very modest returns.
Normal rules for unemployment insurance benefits have been expanded due to the pandemic. The Cares Act provided more relief for people who are filing for unemployment.
1. More People Are Entitled To Unemployment Insurance Benefits
Generally, college students are not eligible for for unemployment benefits. However, financial relief may be available for students who were impacted by the coronavirus outbreak.