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Reduced unemployment to negatively affect consumer spending

The Wall Street Journal 09/22/2020

Workers who have lost their jobs in recent months were able to keep paying bills and in some cases save or spend more than they did before they were unemployed due to $600 in added weekly benefits paid by the federal government. When Congress could not agree to keep those extra funds in place, President Trump issued an executive order to pay $300 a week, which meant some belt-tightening on the part of unemployed workers. Now that there are no additional payments in sight, many of those without work and little prospect of finding jobs that pay a living wage are wondering how they are going to come up with the money for housing, food and other basic needs.

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