printSmall Business Blues
by kleinbl00
J.P. Morgan’s findings not only square this circle but stand as a stark reminder for lawmakers duking it out on Capitol Hill: “While aggregate spending of the employed was down by 10%, the spending of unemployment benefit recipients increased by 10%, a pattern which is likely explained by the $600 federal weekly supplement. At the same time, our second finding is that among the unemployed who experience a substantial delay in receiving benefits, spending falls by 20%.” We’ll translate—if the unemployment insurance supplement is not extended full board, the hit to spending will be immediate.