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Combine that expiration of benefits with rising COVID cases and stricter regulations and it’s not a great picture for the economy. Julia Coronado, founder and president of MacroPolicy Perspectives, says “about 12 million people receiving those benefits stand to lose them the day after Christmas, so this could affect people’s mindsets going into the holidays.” Coronado also said we don’t know a ton about what hiring has looked like in November, although we typically see a lot of new jobs for retailers this time of the year. “We’re probably not going to see as many of those jobs, but we could see some offset with warehouse and delivery workers being added ahead of the holidays,” she said.
Marketplace’s Nova Safo reports.