2020-08-07 — cnbc.com
It would take a massive effort for Democrats and the White House to even reach the outline of a deal soon. But the clock is ticking: the expiration of both the $600 per week enhanced federal unemployment benefit and the eviction moratorium late last month have left millions of Americans scrambling to cover bills and remain in their homes.
The U.S. added 1.76 million jobs in July despite a resurgence in coronavirus cases that forced many states to pause or reverse their economic reopening plans. The unemployment rate fell to 10.2%, but was still higher than at any point during the 2008 financial crisis.
In a joint statement after the jobs report release Friday, Pelosi and Schumer said the data shows "that the economic recovery spurred by the investments Congress has passed is losing steam and more investments are still urgently needed to protect the lives and livelihoods of the American people."
Democrats have insisted on extending the jobless benefit long term at $600 per week. The White House has made several counteroffers, reportedly proposing extra payments of $400 per week into December.
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