The additional $600 a week in unemployment insurance that Congress provided in late March will sunset on Friday at midnight, dealing a significant financial blow to millions of jobless Americans amid a weakening labor market.
Lawmakers had hoped the deadline, which was known for months, would result in the kind of eleventh-hour agreement that was once commonplace in Washington. But in a sign of how far apart negotiators are, the Senate left town for the week on Thursday, ensuring Congress will careen over the fast-approaching unemployment cliff. Continue reading.