For many months now, Americans have received unemployment benefits. Granted, Republican-led states opted out early; however, with the federal benefits concluding, Democrat-led states that chose not to opt-out will no longer be getting the extra $300 per week.
These handouts from the government have stayed seeped in controversy nearly since their inception. There are debates about the impacts of federal programs like the Pandemic Unemployment Assistance program and whether they’re helping or hurting Americans.
At any rate, it all comes to an end after Labor Day weekend. The conclusion of federal unemployment benefits is furthermore set to have real impacts on the country’s economy.
A game changer for the U.S. economy
The country’s economy isn’t in the best shape right now. In fact, Americans just learned earlier this month that August’s jobs report wasn’t good. Fewer Americans than expected got jobs, for starters. Meanwhile, inflation is still a real issue.
According to a prediction from Goldman Sachs, at least 1.5 million more Americans could seek jobs before 2022, due to the ending of federal unemployment aid. This prediction moreover stands to support claims from Republicans and economists.