We want to flag a good article in last Sunday’s Washington Post Outlook section, just in case your summer weekend didn’t include a good perusing of the newspaper. If it didn’t, you might have missed a great myth-busting job by Heidi Shierholz of the Economic Policy Institute.
Her topic? A favorite of ours: unemployment insurance.
In a nutshell, Shierholz explains why unemployment insurance is one of the best ways to stimulate the economy during a recession. The benefits paid help workers maintain some type of financial equilibrium after losing a job and income through no fault of their own. Though the payments often don’t replace an entire paycheck, the money helps families pay for housing, food, and other basic necessities so the jobless can focus on finding sustainable work and not just something that will pay a bill or two in desperate times. That breathing room also gives laid-off workers the chance to pursue training and other skills that they might need in today’s job market. It’s an investment in human capital that pays off in the long run.
Read Shierholz’s story here.
