500k Illinoisans lose federal pandemic unemployment benefits

State News

(WTVO) — Nearly 500,000 Illinois residents are among the 7 million Americans who will lose federal pandemic-related unemployment benefits today.

Some economists have predicted this may spur recovery in the lagging job market, but research from Harvard and three other universities paint a different picture:

In the 19th state which ended benefits in June, only one out of 8 people who lost benefits was able to find a job.

The Illinois Chamber of Commerce says business owners are still holding out hope. The latest U.S. Jobs Report showed underwhelming results, with the economy adding only 235,000 jobs in August, a significantly lower number than June and July.

The August employment rate was the lowest since prior to the Covid-19 pandemic.

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