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Millions of Americans remain on unemployment as $300 federal supplement expires

unemployment
Posted at 3:34 PM, Sep 07, 2021
and last updated 2021-09-07 18:34:48-04

The Federal Pandemic Unemployment Compensation expired Monday.

The program provided millions of Americans with an extra $300 in unemployment benefits.

According to The Century Foundation, a left-leaning think tank, approximately 7.5 million Americans will see smaller unemployment checks.

The shift comes as hiring slows. The U.S. economy added 235,000 jobs in August.

The August report from the Department of Labor represents a sharp drop-off from June and July when the U.S. added close to a million jobs each month.

The White House blamed the rapid spread of the delta variant on the slowdown.

The overall unemployment rate is 5.2%.

Many businesses claimed they were having trouble hiring people when the federal government was offering an additional $300 unemployment benefit. Some companies resorted to offering hiring incentives to entice qualified workers.

A study by JPMorgan Chase says the expiration of unemployment benefits will not immediately result in people finding work, rather they will trim their at-home budget.