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Economist: If You Won't Wear A Mask For Health, Wear One For The Economy

As the expanded federal unemployment benefits dry up while the White House and congressional Republicans fight over how much to cut them, Arizona economist Jim Rounds says the impact to state and local economies will probably be felt for at least another year.

He predicts a recovery by the summer of 2021 — if, and only if, the pandemic is under control.

“Here in Arizona, the best thing we can do for our economy is to manage the extent that this is going to spread, and that’s why I’m an advocate of wearing masks," Rounds said. "We can save hundreds of millions of dollars in state tax collections and tens of thousands of jobs.”

Rounds said economic indicators will probably be worse than they are now in the fall and winter, especially if the unemployment benefits aren’t extended. The expanded federal unemployment benefits expire Friday, leaving the millions of Americans left unemployed in the coronavirus pandemic without the $600 weekly benefits for the foreseeable future.

"If they don’t have money, then they’re going to have a hard time making payments, and that’s why the governor has been addressing issues like people getting evicted because of lack of payment," he said. "In some cases, the risk to a family’s health might be more related to the parents not having a job than the risk of exposure to COVID-19."

Democrats in Congress have proposed extending the current benefits, while the White House and Congressional Republicans are debating a plan that would cut benefits. Senate Majority Leader Mitch McConnell says it could be a few weeks before a deal is reached.

→  Read The Latest News On The Coronavirus Disease 

Scott Bourque was a reporter and podcast producer at KJZZ from 2019 to 2022.