Springfield, Illinois — Of the 7 million Americans who lose their pandemic-related federal unemployment allowance on Monday, there are nearly 500,000 residents of Illinois.
Some economists have predicted that this may spur a slow recovery in the employment market. However, recent studies by Harvard University and three other universities portray a different situation.
In 19 states that ended their benefits in June, only one in eight who lost their benefits was able to find a job.
The Illinois Chamber of Commerce says business owners still have hope. The latest job report has shown overwhelming results.
The economy added only 235,000 jobs in August. This is significantly lower than the big rebounds in June and July.
However, August’s employment rate was the lowest since before the pandemic.
The federal unemployment allowance for millions of Americans ends on Monday
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