PRESS RELEASE: STATEMENT: AMERICAN RESCUE PLAN WILL BOOST ECONOMY, BUT STUBBORN JOBLESS CLAIMS SHOW NEED FOR MAJOR INVESTMENTS TO CREATE JOBS 

FOR IMMEDIATE RELEASE 
March 18, 2021

Contact:
Maddy McDaniel, Communications Director

[email protected] or 914-471-7716

STATEMENT: AMERICAN RESCUE PLAN WILL BOOST ECONOMY, BUT STUBBORN JOBLESS CLAIMS SHOW NEED FOR MAJOR INVESTMENTS TO CREATE JOBS 

The American Rescue Plan Will Help Boost 2021 Economic Growth to 6.5%, According to the Federal Reserve — But Economy is Still Down 9.5 Million Jobs 

WASHINGTON, D.C. — Another 770,000 Americans filed for unemployment benefits last week, according to the latest data from the Bureau of Labor Statistics. Thanks to the American Rescue Plan, help is on the way, but more will be needed to recover the 9.5. million jobs lost during the pandemic.

Invest In America’s spokesperson Maddy McDaniel issued the following statement:

“Today is a reminder of how much the pandemic has ravaged our economy, as unemployment claims top their Great Recession peak for the 52nd week in a row. Thankfully, the American Rescue Plan’s historic public investments are beginning to help staunch the bleeding as families receive direct relief through checks and unemployment insurance, small businesses get the help they need to stay afloat, and state and local governments are able to ramp up vaccinations, safely reopen schools, and keep essential workers on the job. But we still have 9.5 million fewer jobs than in February 2020.

“Our leaders should build on the incredibly popular American Rescue Plan and build our nation back stronger than before through additional large-scale infrastructure investments that will provide millions of people higher salaries and an economy that supports working families.”

Economists are available to discuss the implications of this week’s jobless claims — reach out to [email protected] to get in touch. 

About Invest in America

Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.

The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

###