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.