White House Says Extending Jobless Benefits Crucial for Economy

The Obama administration pressed the case for Congress to renew extended unemployment benefits with a series of briefings and a report projecting expiration of the program would cost almost 600,000 jobs over the next year.

The White House Council of Economic Advisers report released today also estimates that gross domestic product would be 0.6 percent lower by December 2011 if the extended benefits expire. The report used as a basis of comparison a year-long extension of benefits.