An Unemployment Benefits Disaster Is Coming

Unemployment benefits are expiring soon and there doesn't appear to be any movement from the Biden Administration or Democrats in Congress to do anything about it. This includes the $300 a month extra. In states that have allowed the expiration of benefits to occur saw so appreciable uptick in job growth. This could be a potential disaster.

We stream our live show every day at 12 PM ET.



We need your help to keep providing free videos! Support the Majority Report's video content by going to http://www.Patreon.com/MajorityReport



Watch the Majority Report live M–F at 12 p.m. EST at youtube.com/samseder or listen via daily podcast at http://Majority.FM



Download our FREE app: http://majorityapp.com



SUPPORT the show by becoming a member: http://jointhemajorityreport.com

We Have Merch!!! http://shop.majorityreportradio.com



LIKE us on Facebook: http://facebook.com/MajorityReport



FOLLOW us on Twitter: http://twitter.com/MajorityFM



SUBSCRIBE to us on YouTube: http://youtube.com/SamSeder

Image Credit, Joe Piette
https://www.flickr.com/photos/109799466@N06/50034596326
https://creativecommons.org/publicdomain/
Image has been cropped and color has been altered.

Sam Seder: In a matter of days really effectively and a day to day seven and a half million people are going to lose some form of their unemployment benefits. Millions they're going to lose the 300 extra they were getting from the federal government. Millions are going to lose all of their unemployment insurance because they were you know so-called gig workers. This is a real problem. There is plenty of data that came out that show that the states that rolled back their unemployment insurance the extra benefits the extra expansion of it in terms of who gets it. There was no appreciable jump at all in employment. Some studies show that actually employment grew at a slower rate. And you know it's hard to disaggregate those states probably more likely are having a delta surge. Right because they have no other things that are going on. And so it's hard to sort of like assess that maybe people were like I don't care you know that they've stripped me of my unemployment. Like I’m not going back and risking my life for this. but it shows that there's just what is driving unemployment right now and the unwillingness of people to go back to certain jobs is the deadly pandemic we're in the midst of. Not I’m living large because I now have the ability to pay my rent or something. And I mean this is in months from now you combine this with the eviction moratorium we're going to have a serious serious crisis in this country.
Heather Parton: It seems to me well it certainly seems like it's a time bomb right just waiting to go off. I mean with the the the jobs numbers came out this morning and were much you know less than what the economist had been predicting. there there had been a huge upsurge in jobs in job growth in June and July. And in August it flattened out it's you know much less than what they expected. And of course, I mean I think you're right this is about covid. This is about covid that the hospital I mean we're seeing you know stories every day of hospitals being overrun. I people aren't even they had gunshot wound victims in Oklahoma who are unable to get care because the hospitals were overrun with covid patients. And we all know the reason for that you know. We don't need to belabor it. We have a bunch of people who are refusing to get vaccinated and they're going getting going into the hospital and dying. And over you know burdening our health care system. But nonetheless, that's what's happening and the idea that somehow or another you're going to just remove all you know the sort of you know infrastructure the support infrastructure that had been built in. Really from the beginning of the pandemic going back to to the first you know share act under Trump. That suddenly that that's just going to fall off while we're having this massive new surge in a new surge in covid seems bizarre to me. Now the eviction moratorium saw what happened with that. You know Biden was in the administration they were pressured into reinstating it they said outright we think that this is going to be overturned by the supreme court. But we're going to do it maybe we can buy some time. because there was a lot of money sitting in pots around the country in local and state jurisdictions that hadn't distributed the money to people. That could have helped them.