Unemployment benefit cuts will significantly reduce income and consumer spending: Annualized income and spending losses due to unemployment insurance recipients losing benefits in June/July or September 2021
| All states | |
|---|---|
| Income loss | $144.3 |
| Spending loss | $79.2 |
Note: We multiply estimates of individual income and spending loss from Coombs et al. (2021) by average weekly Pandemic Unemployment Asisstance and Pandemic Emergency Unemployment Compensation continuing claims prior to UI cuts in June or September.
We multiply estimates of individual income and spending loss from Coombs et al. (2021) by average weekly Pandemic Unemployment Asisstance and Pandemic Emergency Unemployment Compensation continuing claims prior to UI cuts in June or September. For states that ended UI early, the claims are for May 2021; for remaining states, August 2021. We completely omit Florida from the analysis because the state failed to report PUA and PEUC continuing claims data. For Georgia, we use only PUA continuing claims because the state failed to report PEUC continuing claims.
Source: EPI analysis of Coombs et al. (2021); Weekly Pandemic Claims Data, Department of Labor Employment & Training Administration Data Dashboard
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