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$600 unemployment: If Congress lets it expire, it won’t be pretty, says Chase

16 Jul 2020

The study found that while aggregate spending of the employed was down by 10% during the initial months of the pandemic, spending by people on the unemployment benefit increased by 10%.

The extra $600 per week in unemployment benefits that was part of the COVID-19 CARES Act passed in March 2020 did more than just help the recently unemployed stay afloat. It helped stimulate the economy, too. That’s according to a finding from a study done by the JPMorgan Chase Institute.

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This content was originally published by Fast Company. Original publishers retain all rights. It appears here for a limited time before automated archiving. By Fast Company

Covid-19 – Johns Hopkins University

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