President Joe Biden is comfortable with a $300 per week federal unemployment benefit lapsing on Labor Day as scheduled.
Biden, delivering remarks on the May jobs report from Delaware Friday, said the temporary boost in unemployment benefits has “helped people who lost their jobs through no fault of their own, and who still may be in the process of getting vaccinated.”
“It’s going to expire in 90 days. That makes sense,” Biden said.
A number of economists as well as private sector contacts surveyed by the Federal Reserve in its latest “Beige Book” report on economic conditions have said generous unemployment benefits have been a contributing factor in labor shortages reported by employers, along with child care and lingering concern over health risks.
Several Republican governors have decided to stop accepting the pandemic unemployment assistance, arguing that it has discouraged workers who are receiving more money in unemployment assistance than they were paid in their jobs from returning to work.