The Extra $600 Americans Receive in Weekly Unemployment Benefits Ends in July – How That Could Cost the U.S. More Jobs

For every dollar spent on unemployment insurance, there’s a multiplier effect leading to a 1.64 increase in GDP, research shows

by Elisabeth Buchwald
Market Watch

Two-thirds of Americans are receiving more money from unemployment benefits than they did from their jobs, largely because of a supplemental $600 weekly benefit that’s part of the $2.2 trillion CARES Act.

But decreasing those benefits could cost the country even more jobs on top of the historic 40 million jobs that have already been wiped away by the coronavirus pandemic, Heidi Shierholz, an economist at the Economic Policy Institute, a left-leaning think-tank based in Washington, D.C., said.

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