Society Turns out Unemployment Benefits had no effect on the labor market

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kneeblock

Drapetomaniac
Apr 18, 2015
12,435
23,026
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:


 
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Jesus X

4 drink minimum.
Sep 7, 2015
28,766
31,291
people have definitely become lazier due to stimmys and EDD(unemployment) and not taking jobs I think it is contributing to our back up at the port because they dont take warehouse And logistics jobs. I never got on unemployment because even during the shutdowns I had side hustles but people being lazier is actually an advantage to those of us that want to work because now I have like 20 vacancies at some of the best employers in my area pre covid it would take like 2 years to change jobs unless I took a shittier job.

 

MMAHAWK

Real Gs come from California.America Muthafucker
Feb 5, 2015
15,098
32,957
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 employment 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:


In California I’d say rent and bill forgiveness might be an even bigger factor at this point.
 
T

The Big Guy

Guest
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:


We are watching america continue to crumble while Biden refuses to answer.

Build back better lmao
 

Hauler

Been fallin so long it's like gravitys gone
Feb 3, 2016
45,413
57,814
Socialists are now citing JP Morgan as a credible source for financial policy?

Here's the unintentional comedy you seek Splinty @Splinty
*phone rings*

Me: Hello?
JP Morgan: So we ran a report on the state of the economy and-
Me: Is this better than the one you did leading up to 2008?
JP Morgan: What?
Me: 2008. The year. The economy.
JP Morgan: Uh...
Me: *click*
 

Filthy

Iowa Wrestling Champion
Jun 28, 2016
27,507
29,834
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:


c'mon man.

JPMorgan are not capitalists, nothing loathes a free market more than a Central Bank.

but interesting to understand where people are adapting, some have probably found gig-economy jobs or reduced spending.

I remember seeing a John Stossel 'mythbuster' show years ago where he debunked the notion that you need two incomes to support a family. Almost all of most 2nd incomes goes to supporting the dual-income life (cars, babysitters, insurance, etc).
 

Filthy

Iowa Wrestling Champion
Jun 28, 2016
27,507
29,834
found this, aired in 2006

Myth No. 8 — American Families Need Two Incomes

Many families in America say both husband and wife have to work, because they can't make ends meet without both incomes. It's the reason Sherri Kowalski and her husband say they both work.

Sherri gets up every morning at 4:00 a.m. because she took a job delivering newspapers. She also sells things on Ebay. Her husband works as a lab technician, but they say it's not enough money for the family. But does she really need this job?

Contrary to what we always hear, Americans make more money these days. The U.S. Department of Commerce reports that even after accounting for inflation, personal disposable income has tripled over the past 50 years. And Sherri's husband makes an above-average income.

The Kowalskis feel they need the extra income because they say they need to buy more things for their family. They recently bought a new, fully loaded minivan. But they have already have an Escort and a pickup truck.

"I wanted the better van; I didn't want the van with the cloth seats and the no entertainment system. Everybody wants more," Sherri said. A lot more.

Fifty years ago, the average family in the United States had one car. Today the norm is two or three. Houses have more than doubled in square footage, and shoppers just seem to spend as much as they want.

"Most families don't have to have both parents working. They do this by choice. People have decided they want to maintain a very high income lifestyle on two incomes to have all the things to keep up with the Joneses," Moore said.
 

Hauler

Been fallin so long it's like gravitys gone
Feb 3, 2016
45,413
57,814
Don’t pretend.

We all know you haven’t read it.
I don't need to.
I live and work in reality. I see what is happening because I'm in the mix, and I talk to people across the country who are experiencing the same thing as I am.

Day in.
Day out.

It's bullshit.

Also...
JP Morgan.
 

Freeloading Rusty

Here comes Rover, sniffin’ at your ass
Jan 11, 2016
26,916
26,743
I don't need to.
I live and work in reality. I see what is happening because I'm in the mix, and I talk to people across the country who are experiencing the same thing as I am.

Day in.
Day out.

It's bullshit.

Also...
JP Morgan.
And you LUV your anecdotal evidence!
 

BeardOfKnowledge

The Most Consistent Motherfucker You Know
Jul 22, 2015
60,547
56,268
I don't need to.
I live and work in reality. I see what is happening because I'm in the mix, and I talk to people across the country who are experiencing the same thing as I am.

Day in.
Day out.

It's bullshit.

Also...
JP Morgan.
"How dare you. JP Morgan looks out for the interests of small business and the common man above all else."

- Jamie Dimon, probably