Title: $600 Unemployment Checks — Congress Has No Choice But To Extend Benefits
Headings: $600 Unemployment Checks — Congress Has No Choice But To Extend Benefits
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May 27, 2021,03:40pm EDT
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Final Thoughts

Content: The Timing of Federal Unemployment Benefits Expiration Couldn’t be Worse
ASSOCIATED PRESS
The expiration of that benefit, should it actually happen, couldn’t come at a worse time. The number of new COVID-19 cases in the US has reached record levels. In recent weeks they’ve been averaging over 60,000 per day, sometimes topping 70,000. That’s roughly double the number of new daily cases recorded at what was believed to be the peak of the virus back in April. The acceleration in new virus cases is putting a damper on predictions of economic growth that were expected for the third quarter. “While the economic impact of the current surge of coronavirus cases on Sun Belt states like Texas, Florida, Arizona, and California has been minimal so far, analysts from Goldman Sachs predict that more shutdowns and reopening rollbacks in those states have the potential to do long-term damage to the national economy,” reports Forbes Staff Writer, Sarah Hansen. “ 80%. That’s the portion of the United States where reopening is either on pause or reversed, according to Goldman (Sachs) researchers.” Indeed, as the number of COVID cases continues to spiral, not only will there be new layoffs, but many originally considered to be temporary furloughs may well become permanent. After all, against the backdrop of the spread of the coronavirus, consumers are less likely to get out and about.