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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Eye On Boise

Bright side of unemployment?

Certainly, it's not good economic news that Idaho's unemployment is breaking more and more records. Last week, the $16.2 million in unemployment insurance benefits paid by the state broke the previous weekly record, which was set the first week of April, and the year-to-date figure of $627 million in benefits paid to out-of-work Idahoans has shattered all records - in all of 2008, the state paid out $247 million. But according to the state Department of Labor, there's an economic silver lining to this: Moody's Economy.com estimates that every dollar paid in unemployment benefits actually has an economic impact of $1.63, because unemployment, unlike other income, is almost always spent, not saved. And it's spent on basics like house payments, rent, utilities, food and gas - which boosts the economy.



Betsy Z. Russell
Betsy Z. Russell joined The Spokesman-Review in 1991. She currently is a reporter in the Boise Bureau covering Idaho state government and politics, and other news from Idaho's state capital.

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