The evidence so far is muddy, and points to at most a small effect | Finance & economics
ran an article on Missouri, a state that abolished the supplement on June 12th, claiming that people were flying off the unemployment rolls. The very same day theran an article also on Missouri, which drew almost exactly the opposite conclusion. The reality is somewhere in between these polarised extremes. Making benefits less generous may help America’s jobs market a little—but other factors do more to explain labour shortages.
Removing the $300 weekly top-up certainly makes living off welfare less comfortable. At that level 40% of people are earning more than they were in their previous jobs. It is hard to say right now, however, whether imposing tougher conditions translates into more vigorous job searches. The first four states to abolish the supplement did so too late for the effect, if any, to show up in the latest jobs report, released on July 2nd.
It will not be until the August jobs report, released in September, that wonks will have a better idea of what is really going on at the state level. It seems likely, though, that overall employment in America will by then be somewhat higher than it would have been without the cut to.
People’s care responsibilities are one big impediment to returning to work . A pile of “excess” household savings accumulated during the pandemic, amounting to more than $2trn in total, has made it easier for many Americans to withstand a spell of unemployment, say until they find the perfect job. Others are depending on the salary of a spouse or partner. Moreover, fear of catching covid-19 is still apparently holding many people back.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Some Republican states that cut federal unemployment benefits early are recovering more quicklyBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Leer más »
Overpaid Unemployment Benefits Total in the Billions During PandemicA government watchdog said the Labor Department found $12.9 billion in overpayments made in several unemployment programs from April 2020 through March 2021.
Leer más »
Welcome to infrastructure week ... againChuck Schumer has set up a deadline of sorts for Wednesday to begin debate on a bipartisan infrastructure bill in hopes of getting it done before the August recess. Only problem is there is no bipartisan infrastructure bill and may not be one this week.
Leer más »
Ranked: The Best And Worst Airlines In America In 2021, According To New ReportA new survey ranks the best airlines in the U.S.—and the worst airlines in America.
Leer más »