IWS Documented News DAILY POSTINGS

IWS Documented News Service
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Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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U.s. Senate

Joint Economic Committee (JEC)

Extending the Federal Unemployment Insurance Benefits Program: Critical to Keeping the Economic Recovery On-Track [18 November 2010]

http://jec.senate.gov/public/index.cfm?p=Reports1&ContentRecord_id=209ee642-86f4-495f-a18f-7353201369ab&ContentType_id=efc78dac-24b1-4196-a730-d48568b9a5d7&Group_id=c120e658-3d60-470b-a8a1-6d2d8fc30132

or

http://jec.senate.gov/public/index.cfm?p=Reports1&ContentRecord_id=1920d522-03e8-4d72-b977-6ab287a00637&ContentType_id=efc78dac-24b1-4196-a730-d48568b9a5d7&Group_id=c120e658-3d60-470b-a8a1-6d2d8fc30132&MonthDisplay=11&YearDisplay=2010

[full-text, 8 pages]

[excerpt]

 Prematurely ending the federal unemployment insurance benefits program would drain the economy of $80 billion in purchasing power and result in the loss of over one million jobs over the next year.

 Ending the federal unemployment program with the unemployment rate well over 9 percent would be unprecedented. Over the past six decades, as the economy has recovered from recessions, the highest unemployment rate at which federal unemployment benefits were cut off was 7.4 percent.

 Unemployment benefits are one of the most effective tools for boosting economic growth. The President's Council of Economic Advisers estimates that every dollar spent on unemployment insurance benefits increases gross domestic product (GDP) by $1.60. The nonpartisan Congressional Budget Office ranks extending unemployment benefits as more effective than other policies they analyzed for increasing growth and employment.

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This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.

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Stuart Basefsky                   
Director, IWS News Bureau                
Institute for Workplace Studies 
Cornell/ILR School                        
16 E. 34th Street, 4th Floor             
New York, NY 10016                        
                                   
Telephone: (607) 255-2703                
Fax: (607) 255-9641                       
E-mail: smb6@cornell.edu                  
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