UNDATED - A University of Georgia unemployment expert says if Congress does not extend federal unemployment benefits beyond this week, the economic impact here in Georgia will be huge.
Dr. Jeffrey Wenger tells Georgia News Network if 25,000 Georgians stop getting those checks next week, it will reverberate through the state economy.
Dr. Wenger says if people can't pay their rent, buy gas, go to the doctor or buy clothing, it would be a personal tragedy that would play out like an unwanted game of dominoes on businesses in cities and counties all over the state.
Those extended benefits started running out Wednesday for an estimated 2 million Americans.
Unless Congress changes its mind, benefits that had been extended up to 99 weeks will end this month, just as the holidays arrive.
Congressional opponents of extending the benefits any further say fiscal responsibility should come first. Republicans in the House and Senate, along with a handful of conservative Democrats, say they're open to extending benefits, but not if it means adding to the $13.8 trillion national debt.
The Federal Reserve expects the unemployment rate will hover around 9 percent for all of next year.
(The Associated Press contributed to this story.)
Saturday
October 12th, 2024
8:25AM
