Jobless benefits for 2 million in U.S. will stop by year's end

11/30/2010 | USA Today · Los Angeles Times (tiered subscription model)

Unemployment payments for about 2 million people in the U.S. are set to stop by the end of December after Congress failed to extend the assistance. A motion by Sen. Jack Reed, D-R.I., to continue benefits failed in a voice vote. Failure to extend the benefits could cut holiday sales growth by almost a percentage point, potentially leading to the loss of 1 million jobs in 2011, said economist Mark Zandi of Moody's Analytics.

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USA Today · Los Angeles Times (tiered subscription model)

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