It's been a well worn cannard among some that the enhanced unemployment benefits provided by the federal government were the reason for people not taking jobs during this time and if we simply cut off those benefits, supposed freeloaders would be forced back to work and the economy would be saved!
Well, it turns out this was nonsense and that even after the federal benefits expired, people still aren't taking crappy, low wage high risk jobs. What radical commie research outfit has made this claim you ask? None other than JP Morgan Chase, who looked at labor market data in states that didn't take the enhanced unemployment benefits and changes in states that did since the expiration of the federal add on. What they found was no correlation between increasing unemployment and the labor shortage. Instead the benefits boosted both spending and savings among people who got it while job seeking stayed constant.
Time to update your government is causing people to not want to work because this one guy you know said he was gonna watch TV instead of working takes. Several other researchers have come to the same conclusion, but in case you needed to hear it from unrepentant capitalists, here it is:
Well, it turns out this was nonsense and that even after the federal benefits expired, people still aren't taking crappy, low wage high risk jobs. What radical commie research outfit has made this claim you ask? None other than JP Morgan Chase, who looked at labor market data in states that didn't take the enhanced unemployment benefits and changes in states that did since the expiration of the federal add on. What they found was no correlation between increasing unemployment and the labor shortage. Instead the benefits boosted both spending and savings among people who got it while job seeking stayed constant.
Time to update your government is causing people to not want to work because this one guy you know said he was gonna watch TV instead of working takes. Several other researchers have come to the same conclusion, but in case you needed to hear it from unrepentant capitalists, here it is:
Unemployment insurance, job search, and spending during the pandemic
www.jpmorganchase.com
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