Thursday, December 02, 2010

Impact of Not Extending Unemployment on Pennsylvania

from the inbox:

Failure by Congress to act on extending unemployment benefits will have stark consequences for Pennsylvania residents, according to a new report from the White House Council of Economic Advisers.

Over the course of the next year, nearly seven million workers across the country – including 353,989 in Pennsylvania – will lose the temporary support that helps them keep food on the table and make ends meet while they search for a job if Congress fails to act.

“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.”

Without extended benefits, Pennsylvania would have had 47,195 fewer jobs as of September 2010, and failure to act to extend benefits again could cost the state 31,228 jobs by the end of next year.

Benefits for the jobless are particularly important during the holiday season. In addition to providing support for families when they need it most, the positive effects of the program on the economy are likely to be greater since American families tend to spend more during the holiday season. In December alone, two million Americans will lose their coverage if Congress fails to act, the report finds.

To view the full report, including more state-by-state numbers, click HERE.

The full report is a 19 page pdf. The last two pages provide some numbers by state.

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