ECONOMY

Biden administration disburses 25 million more stimulus payments to Americans

The Biden administration said on Wednesday that 25 million more stimulus payments worth a total of $36 billion had been sent out to Americans from the $1.9 trillion pandemic relief legislation.

The announcement of a fourth batch of checks was made by the Treasury Department and the Internal Revenue Service. It brings to 156 million payments the amount disbursed, with a total value of $372 billion.

The latest payments of up to $1,400 began processing last Friday, with some people receiving direct deposits, Treasury said in a statement.

The pandemic-hammered U.S. economy has been on the rebound, with 916,000 jobs created last month, bringing the jobless rate down to 6%.

Reuters Reporting by Jeff Mason and Steve Holland; Editing by Peter Cooney

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