He pointed to an analysis from the left-leaning Economic Policy Institute that found cutting the boost to $200 a week would result in 3.4 million more layoffs.
WKRN
July 30, 2020
Cutting unemployment insurance by $400 could cost 3.4 million US jobs over the next year, per data from Economic Policy Institute. The extra income helped low-income Americans rebound consumer spending and kept laid off workers afloat when only about half of American adults were employed as of June.
Business Insider
July 30, 2020
Unemployment payments aren’t simply replacing lost income. They also serve as economic stimulus. Heidi Shierholz, senior economist and director of policy at the Economic Policy Institute, a nonpartisan think tank in Washington, points out that the $600 in additional unemployment benefits that workers have been getting actually supports millions of jobs. “Killing the $600 payment entirely would cost the U.S. 5.1 million jobs,” she says. People who are getting relief payments, Shierholz explains, spend it on basics like food and shelter. By contrast, people with higher incomes are now saving more.
Inc.
July 30, 2020
“‘We are just furloughing people until we can reopen.’ That was what a lot of those early [layoffs] looked like,” said Heidi Shierholz, senior economist and policy director at the Economic Policy Institute, who noted that many of these temporary job losses have now become permanent.
VOX
July 28, 2020
In April, more than half of the adult African American population was unemployed, according to the Economic Policy Institute (EPI). While the overall unemployment rate dropped to 11.1 percent in June, it continued to climb for Black men reaching 16.3 percent, according to EPI.
Truthout
July 28, 2020
Dr. Emma Garcia has questions about whether private schools can fulfill the promises they’re making to parents during the pandemic. An economist at the Economic Policy Institute, a left-leaning think tank, Garcia doubts that benefits such as more space for social distancing and low student-teacher ratios in private schools can be maintained with a surge in enrollments. Private schools tell DCist they are operating under-capacity when it comes to physical space and are having no difficulties hiring additional staff.
DCist
July 28, 2020
A separate analysis from the left-leaning Economic Policy Institute projected that reducing federal unemployment benefits by $400 would cost the US 3.4 million jobs and shrink the economy by 2.5% over the next year.
Salon
July 28, 2020
The Economic Policy Institute estimates that a cut in the $600 a week extra unemployment insurance to $200 a week will reduce aggregate demand and cut the number of jobs that were projected to be created. It expects a loss of about 2.5% growth and 3.4 mln fewer jobs. After this week’s FOMC meeting and the first look at Q2 GDP, the US July employment report is due at the end of next week.
Nasdaq
July 28, 2020
She points out that in the 2008 recession, for example, there were lots of jobs lost in areas like construction and manufacturing, which are typically male-dominated. But in this recession, the jobs were lost in fields like leisure and hospitality, retail and the public sector. “A disproportionate number of women lost their jobs,” says Gould, a senior economist at the Economic Policy Institute—and Black and Latinx women were particularly impacted. (Other differences between this recession and past recessions are outlined here.)
Real Simple
July 28, 2020