Economists want to swap $600 unemployment boost with up to $400 a week

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Closed businesses on May 21, 2020, in Baltimore, Maryland.

(Photo by Salwan Georges/The Washington Post via Getty Images)

Lawmakers should replace a $600 unemployment supplement for jobless workers with a maximum $400 a week, according to a new proposal issued by a group of powerhouse economists. 

The proposal comes as Democrats and Republicans debate the merits of extending the $600 weekly enhancement to unemployment checks, which is scheduled to end after July 31.

Democrats want to extend the $600 checks past July to avoid a severe drop in household income at a time when unemployment is likely to remain elevated.

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Unemployment rate conspiracy theory called baseless by economists

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President Donald Trump conducts a bill signing ceremony with members of his economic team in the Rose Garden at the White House on June 05, 2020.

(Photo by Chip Somodevilla/Getty Images)

A conspiracy theory has emerged relative to the unemployment rate, suggesting that the Trump administration rigged official statistics to give the illusion of a rebounding economy.

But labor experts and economists have vigorously denounced such suggestions, which they call baseless and invalid.

“No economist worth his salt thinks the numbers have been fudged,” said Michael Farren, a research fellow at George Mason University.

The controversy was spurred by a

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Economists see uneven jobs recovery, high U.S. unemployment through 2021

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WASHINGTON (Reuters) – The trillions of dollars in cash and loans unleashed by the Federal Reserve and U.S. political leaders in recent weeks is meant to build a financial bridge for the country to get beyond the coronavirus pandemic and restart the economy with little or no long-term damage.

FILE PHOTO: People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fayetteville, Arkansas, U.S. April 6, 2020. REUTERS/Nick Oxford

But that mammoth effort is still likely to leave millions of additional Americans unemployed for

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When will U.S. economy bottom? Economists hunt for the right view

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WASHINGTON (Reuters) – The economic crisis spawned by the coronavirus pandemic has produced a wave of grim U.S. data, with likely more to come as millions lose jobs, businesses shutter and spending stops.

FILE PHOTO: People practice social distancing while spending time outdoors in the West Seattle neighborhood during the coronavirus disease (COVID-19) outbreak in Seattle, Washington, U.S. April 2, 2020. REUTERS/David Ryder

But at some point, the bottom will be reached.

Given how fast the situation has developed, judging when that happens in real time will prove challenging for economists who usually depend on monthly, quarterly or yearly trends

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