The spending cuts could slow economic growth and cost 700,000 jobs, according to the Congressional Budget Office. They could also reduce unemployment benefit checks for those out of work for more than six months by about 11 percent, according to the National Employment Law Project. Benefits average about $320 per week nationwide.Growth will likely pick up a bit in the January-March quarter to an annual rate of close to 2 percent percent, analysts forecast. That's better than the fourth quarter but below last year's expansion of 2.2 percent.
Weekly US Unemployment Aid Claims Drop To 344K
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