Breaking News | Tuesday, June 20, 2023 – Last week, initial unemployment claims stayed stable at 262,000.
- Retail sales increased unexpectedly by 0.3% in May.
- The Federal Reserve held interest rates constant in June, but announced two more rate hikes in 2023.
- In May, the Consumer Price Index saw a 0.1 percent increase in prices.
Who will receive the $1,800 Social Security payment on June 21?
The Social Security Administration is still mailing out June payouts to retired workers, as well as Supplemental Security Income payments and disability and survivor benefits.
According to the SSA, retirees’ average payments are $1,827 this year, thanks to an 8.7% rise in the COLA. The maximum payment is $2,572 per month for individuals who retire at age 62, $3,627 for those who retire at full retirement age (67), and $4,555 for those who retire at age 70 or later.
The SSA sends out approximately $600 in monthly Supplemental Security Income payments. The maximum monthly SSI benefit for an individual is $914 and $1,371 for a married couple.