As the White House lauds falling unemployment claims, a former Obama economist says benefits must stay in place to ensure a full recovery
- Jobless claims just dipped again, reaching a new pandemic-era low.
- The White House is lauding signs of
recovery, but prematurely ending unemploymentcould hurt that.
- One economic expert said that ending benefits now would hurt both workers and recovery prospects.
Thursday brought two big numbers for the American
"Things are getting back to normal," Shierholz told Insider. "I think the key is we don't want to make drastic policy changes at this point." When it comes to relief and recovery measures for this recession, "we are doing it so right," she said. But she warned that could still change.Shierholz said she expects to see a quick bounceback and strong recovery, but changing course could threaten that. "If we start pulling back with those measures now, we're going to just cut that off at the knees," she said.
One thing that could weaken the recovery is the move to prematurely end federal
The White House has signaled acceptance for benefits ending. Last week, White House Press Secretary Jen Psaki said the GOP-led states that are cutting off benefits "have every right" to do so.
Shierholz said many people that have been unable to find work or are unable to return due to health concerns. Cutting off benefits would also cut off the money those people have been spending in the economy."Cutting them off too early deeply unnecessarily increases human suffering," she said. "It also weakens the recovery."
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