Extending Unemployment Benefits Would Create 300,000 Jobs, Report Says

Unemployment benefits to expire.
Unemployment benefits to expire.



WASHINGTON -- Extending the current level of long-term unemployment benefits for another year would add 300,000 jobs to the economy, according to a report from the Congressional Budget Office.

The analysis released Wednesday from the nonpartisan office estimates that keeping jobless benefits would cost the government $30 billion. But it would also lead to more spending by the unemployed, boosting demand for goods and services and creating new jobs.