Between the lines: The continuous increase in PEUC claims likely means Americans are staying unemployed for longer and the consistent uptick in STC claims shows that even businesses that have not laid off employees yet have been cutting their hours and having the government pick up the slack.
The number of people receiving benefits under each newly created program is higher than the total number of people receiving unemployment benefits during any week in 2019.
The big picture: Such programs have helped uphold American consumers’ spending, but have been quite costly — government spending in June totaled $1.1 trillion, according to CBO estimates — more than triple outlays in June 2019, or about a $763 billion increase.
What’s next: The unemployment picture looks to be worsening right as the $600 in additional federal unemployment assistance expires.
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