As Congress fights, analysts warn economy needs help now

“We’re in a pretty fragile state again," warned Nancy Vanden Houten, lead economist at Oxford Economics, a consulting firm. “The economy needs another shot in the arm.”

The debate coincides with worrisome signs about the job market and the economy. The number of laid-off workers who have applied for unemployment benefits has topped 1 million every week for 18 straight weeks. Before the pandemic, that figure never exceeded 700,000. Real-time data shows that Americans' visits to shops and restaurants have leveled off after having grown in May and June. Air travel fell last week compared with the week before.

The Democratic-led House has already approved legislation that would extend the $600 through January. Research has shown that, counting the $600 a week in federal aid, roughly two-thirds of those out of work are receiving more money from their jobless benefits than they earned at their previous jobs. That conclusion has fueled Republican concerns that the extra aid has discouraged some of the unemployed from returning to work, potentially slowing the recovery.

William Spriggs, chief economist at the AFL-CIO, argued that the 7.5 million jobs that the economy added in May and June suggest that most of the unemployed will take a job offer when unemployment is high, because they know another opportunity may be hard to find.

Source: Financial Digest (financialdigest.net)

This tweet really makes you seem hopelessly naive.

FakeNewsMedia LiberalismIsTheRealPandemic DemocratsAreDestroyingAmerica

Dems passed a bill a while ago. Mitch waits until last minute to unleash his own with to push rush job with no compromise and you say “Congress.” It’s the Mitch all his way or nothing special. Wake up.

Of course it’s faltering. The GOP has done nothing but sit on their asses believing this would all magically disappear. Guess what folks... it didn’t. And you’re too late now... again.

It always ends this way when we have a Republican President.

This is a result of Democrats Chicago highest crime rate in the nation run by democrats, New York, LA among the most infested by COVIDー19 and anarchist destroying federal property disrespecting our law enforcement. Open economy now!

Thanks democrats (And media!) for demanding we shut down the economy!

الله أكبر الله أعلى الله أقوى .

What did you think would happen when you scare everyone in to staying home?

And FLOTUS wants to waste tax dollars on a new rose garden.......

Because of China

And the Far Left Wing Extremist Fake New Media and the Democrat-Marxist Party is overjoyed!

DemocratsTheEnemyWithin DemocratsHateAmerica DemocratsAreDestroyingAmerica

Lockdowns are a big mistake!

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