If the Republicans fail to act on extending unemployment benefits there will be stark consequences for millions of workers across the country, according to a just-released report by the White House Council of Economic Advisers CEA).
Over half-a-million Floridians will lose the temporary support that helps them keep food on the table and make ends meet while searching for a job if Congress fails to act, the report finds.
“Extending this support to those hardest hit by this crisis is not only the right thing to do, it’s the right economic policy,” said CEA Chairman Austan Goolsbee. “Letting millions more Americans fall into hardship will hurt our economy at this critical point in our recovery and immediately undermine consumer spending.”
Not only will 531,029 Florida residents lose support, but without extended benefits, Florida would have had 43,292 fewer jobs as of September 2010, and failure to act to extend benefits again could cost the state 46,846 jobs by the end of next year, the report finds.
Nationwide, over the course of next near, nearly seven million workers will lose jobless benefits if unemployment insurance is not extended.
