“A replay of the live Protect Pandemic Unemployment: Virtual Rally can be seen at: https://www.youtube.com/watch?v=f3OSdbX-FbM”
The $600/weekly Pandemic Unemployment Compensation (PUC) has been a life line to the 33 million unemployed since March. It has actually acted to reduce poverty in the US despite the highest unemployment since the Great Depression.Unemployment is predicted to remain over 9% well into 2021 according to the Federal Reserve Board, making the argument that the $600 is a disincentive to work not compelling. There will not be nearly enough jobs for the unemployed.Poverty, particularly for Black and Latino families, will skyrocket if the PUC is ended on July 25,2020.Pandemic Unemployment Compensation is critical to the economic recovery of the nation. Extending it through mid-2021 would increase GDP by 3.5% and lead to creation of over 5 million jobs according to the Economic Policy Institute. 70% of our economy is driven by consumers and PUC allows people to continue to consume despite the corona virus pandemic.