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NPR s Steve Inskeep talks to investment banker Daniel Alpert, a senior fellow in financial macroeconomics and an adjunct professor at Cornell Law School, about the pandemic economy and low wage jobs.
Citing a severe shortage of workers, half of the nation s governors have decided to end extra federal jobless benefits months early. But an economist says that will set back households and businesses.
Half Of States Are Ending Pandemic Jobless Aid Early, And The Economy Could Suffer
By Avie Schneider
June 3, 2021
Updated June 3, 2021 at 2:00 PM ET
As the economic recovery picks up steam, new claims for state unemployment benefits have fallen to the lowest level since the start of the pandemic. And, citing a severe shortage of workers, half of the nation’s governors have decided to end extra federal jobless benefits early well before they’re due to expire in early September.
But cutting off those extra benefits which amount to about $10 billion per week is a big mistake that could hurt the economy just as it’s getting back on its feet, said Dan Alpert, a senior fellow in macroeconomics and finance at Cornell Law School.