THE ECONOMIC POLICY Institute says that extending emergency unemployment insurance benefits through 2011 would create or save 488,000 jobs. The extension would also generate over 12 million weekly work hours for people who already have jobs, meaning the benefits would support a total of 723,000 full-time equivalent jobs.
The estimate cost of continuing the extensions is $65 billion, but revenue from the taxes paid on the jobs the extensions will create lowers the price tag to $25.9 billion. Unemployment insurance benefits are set to expire November 30.
