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: “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. But that means that Congress will have to act fast since the Senate is not scheduled to return from its recess until July 17. “There’s actually a reasonable likelihood of that happening just because the economy really is fairly stable right now. Goofing around with it too much could be really disastrous,” Evermore says. Check out: The best credit cards of 202 1 could earn you over $1,000 in 5 years
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