Pandemic unemployment benefits end for 7M Americans on Labor Day

More than 7 million out-of-work Americans are poised to lose all of their unemployment benefits this week as three federal programs put in place in the early days of the coronavirus pandemic expired on Monday.

In addition to the 7.5 million workers who face the loss of all unemployment benefits on Labor Day, another 3 million stand to lose the extra $300 boost to their state jobless aid, according to a recent report published by the left-leaning Century Foundation. 

The lapse of the jobless aid, set up by Congress nearly 18 months ago as the virus forced an unprecedented shutdown of the nation’s economy, pushing unemployment to the highest rate since the Great Depression, could precipitate a sharp pullback in spending: The Century Foundation estimated that ending the programs will drain about $5 billion a week from the economy, threatening its slow progress to pre-pandemic levels.

Pandemic unemployment benefits end for 7M Americans on Labor Day