Sunday, September 05, 2021
More than 7 million out-of-work people across the United States are set to lose all of their jobless benefits this week as three federal programs expire on Monday, in what several experts described as one of the largest and most abrupt ends to government aid in U.S. history. In addition to the more than 7 million people who will lose all their benefits, nearly 3 million more people will lose a $300 weekly boost to their state unemployment benefits.
"I worry that we're pinning heavy hopes on the economic upside of turning off these benefits when these benefits weren't the primary factor holding people back from returning to work, and they're also providing an important boost to spending," said Fiona Greig, co-president of the JPMorgan Chase Institute.
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