We shouldn’t let emergency federal benefits expire because the same fundamental logic that led to their being (correctly) enacted still holds today: The labor market is still in bad shape, the economy is still weak, there are three times as many unemployed workers as job openings. Simply put, as the chart above shows, it’s much harder for the long-term unemployed to find a job right now than it has been in the past when emergency federal benefits were allowed to expire.
OK, I lied. Here is a second chart:
Again, why would ending these benefits be a good idea (a) during perhaps the weakest economic recovery, both in terms of GDP and job growth in American history, and (b) at a time when technology may be radically changing the nature of work in America? Beyond that, Washington needs to push an agenda to get the long-term jobless working, ASAP.