Even a brief debt ceiling breach of about one week would slash 1.5 million jobs, raising the unemployment rate from 3.4% to 5%, a Moody's AnalyticsAn extended breach of roughly two months would bring a massive wave of unemployment, cutting nearly 8 million jobs and pushing the unemployment rate to 7.8%, the report said.
The potential job losses, however, would not fall evenly across occupations, demographics and regions, experts said. Instead, some workers would be hit hard while others would be spared.Which occupations will be hit first by a debt ceiling breach? "When the economy starts to slow down, people stop spending money on things you can touch: cars, homes, computers and clothes," she added.
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