Recovery risked if jobless lose aid: White House
A report from the White House Council of Economic Advisers says that if unemployment benefits are not extended for another year, they would expect the economy to lose 600,000 jobs by next December. Analysts say that without the extension, 800,000 people will lose their benefits by the end of next week, and 2 million people will be without benefits by the end of the year. The White House says that that number would then continue to rise, with an estimated 7 million people losing coverage by November 2011. The President is urging Congress to extend unemployment benefits before Christmas, and to extend tax cuts for the middle class.
See "Recovery risked if jobless lose aid: White House", Matt Spetalnick, Reuters, December 1, 2010