Sarah Chaney Cambon

speaker

542 appearances 17 recordings 1 series first heard Sep 2017 last heard Feb 2023

Sarah Chaney Cambon’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · New $300 Unemployment Benefits: How Long Would They Last? · 13 Aug 2020 podcast

Now we're talking about up to $400 extra a week or $300 extra a week. matched

And the labor department official we spoke with said that the $300 extra a week would give about 50% of workers at least the same amount of money and benefits that they were earning while working. matched

And that lines up with several different economists' estimates as well and is important just in the broader debate over the additional unemployment aid. matched

A lot of Republicans didn't want the extra $600 per week to continue because they saw it as a disincentive to work, whereas Democrats were saying that it's matched

you know, really important given the fact that millions of people are still unemployed and there aren't that many job openings. matched

Yes, yeah, it's really an interesting connection, but it's not completely unprecedented. matched

So before all of this happens, there is actually something called disaster unemployment assistance. matched

So if there was a hurricane, let's say, in a given state, then FEMA would provide money to unemployed individuals who weren't eligible for regular unemployment insurance. matched

So it's not completely unprecedented that FEMA provide funds to unemployed people. matched

And so President Trump has tapped these these funds from FEMA that would normally go to funding a disaster relief. matched

And it is now using them during covid to fund this part of the expanded unemployment benefit. matched

So President Trump has allocated about $44 billion in funds for the extra $300 in benefits. matched

It's interesting, though, because if all states were to participate in providing this extra $300 and if unemployment increased, matched

Claims remained at about the same level that we've seen. matched

That $44 billion in funding could be spent in about five or six weeks. matched

That's based on our own calculation, but also a Labor Department official confirmed that. matched

it's never easy so a lot of state labor departments have very antiquated technology we're talking decades old systems and so whenever they have to set up a new system it's oftentimes more complicated than you would think for states and they say this so it's unclear exactly how many weeks it would take states to set up this new program matched

apply for the program to begin with and then start drawing down on the benefits. matched

The Labor Department official we spoke with said states could get their systems up and running ready to deliver payments within a couple of weeks, but we'll see whether that happens. matched

Yes, the allocation of the aid from a budget that could go towards hurricanes is another topic for debate in this. matched

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