According to an analysis by the Economic Policy Institute, as many as 11.9 million workers have zero chance of returning to their prior jobs as temporary job losses become permanent ones.
VOX
July 27, 2020
A study by the Economic Policy Institute, a progressive research group, said cutting the extra payment to $200 from $600 would cost New Jersey 98,607 jobs over the next year, as unemployed workers have less money to spend.
NJ.com
July 27, 2020
If benefits were extended through the middle of 2021, Josh Bivens, director of research at the nonpartisan Economic Policy Institute, estimates GDP would grow 3.7 percent a quarter on average and support the employment of 5.1 million workers.
Inc.
July 27, 2020
New estimates show that without sufficient aid to state and local governments, the COVID-19 pandemic could lead to a revenue shortfall of nearly $1 trillion by 2021 for state and local governments, according to the Economic Policy Institute. This means job losses for school employees just as they need much more help.
NEA Today
July 27, 2020
As millions of unemployed Americans face the loss of benefits, Rising Up With Sonali examines the COVID-relief bill that Congress is struggling to pass with Josh Bivens from the Economic Policy Institute.
Free Speech TV
July 27, 2020
According to the Economic Policy Institute:
Currently, Senate Republicans are offering a proposal to reduce this weekly $600 supplement to closer to $200. This is better than allowing the $600 benefit to go all the way to zero, but this would still lead to GDP that was lower by 2.5% a year from now, and, would lead to 3.4 million fewer jobs created over the next year.
Politicus USA
July 27, 2020
Backing that up, the Economic Policy Institute just released analysis indicating that reducing the payments to $200/week, one of the “compromises” Mitch McConnell is considering, would cost as much as 3.4 million jobs over the next year. They’ve estimated that if it goes away entirely, it would slow the growth of GDP by 3.7% over the next year, resulting in 5.1 million fewer jobs being created.
Daily Kos
July 27, 2020
The Economic Policy Institute estimates that eliminating the $600 addition could cost the economy over 5 million jobs.
Augusta Free Press
July 27, 2020
The $600 benefit has buffered the blows to the overall economy and individual households, according to a blog by Josh Bivens, the director of research at the nonprofit Economic Policy Institute. He said extending the $600 benefit through the middle of 2021 would boost the quarterly gross domestic product by an average of 3.7% and increase employment by 5.1 million workers.
If the $600 payments aren’t extended, jobs will be lost, Bivens said in an email. Income losses will result in lower demand for goods and services and cut the demand for workers, he added. Colorado would lose 66,898 jobs over the next year, according to the think tank’s estimates.
Denver Post
July 27, 2020
Expanded unemployment insurance has recently been shown to have added more than $800 billion to the economy, but the expansion is set to expire on July 31. According to the Economic Policy Institute, ending this expansion prematurely could cost the economy more than 5 million jobs.
Center for American Progress
July 27, 2020