Title: The extra $600 unemployment benefits will end before July 31
Headings: The extra $600 unemployment benefits will end before July 31
The extra $600 unemployment benefits will end before July 31
Ending $600 boost could have ‘multiplier effect’ on economy
Debate over extending coronavirus unemployment benefits continues

Content: I doubt anybody can afford rent in Phoenix on that much.” Ending $600 boost could have ‘multiplier effect’ on economy
But it’s not just those who are unemployed who will be affected. “ I think most people think that when the $600 gets cut off that if they’re not unemployed, it’s not going to affect them. But when 30 million people are no longer getting $600 extra dollars, that’s going to have a multiplier effect on the whole economy,” Evermore says. In fact, in a recent Congressional testimony economist, Jason Furman estimated that the extra $600 unemployment benefit will boost GDP by 2.8% and support just under three million jobs. “Letting this extra $600 in unemployment insurance benefit expire at the end of July would by itself cause more job loss than was seen in either of the recessions of the early 1990s or early 2000s,” writes Josh Bivens, director of research for the Economic Policy Institute. Going forward, Bivens predicts that extending the $600 unemployment benefits through the middle of next year would provide an average GDP quarterly boost of 3.7% and employment of 5.1 million workers. The widespread impact of the unemployment boost is likely to push federal lawmakers into extending the benefit, Evermore says. “ It’s moved from an ‘if’ to a ‘how much’ kind of question. I think most people realize you can’t just drop $600 from 30 million people’s weekly benefit and have nothing happen,” Evermore says.