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I don't understand the current trope about people en masse staying on unemployment benefits instead of returning to work. May 2021 U-3 unemployment is below 6%
by runnerup 5y ago
I don't understand the current trope about people en masse staying on unemployment benefits instead of returning to work. May 2021 U-3 unemployment is below 6% and seems like a very, very typical level for any point over the past 20 years.
- fundad 5y agoA child care business owner couldn’t hire layer off workers back, if she took a pay cut to attract workers she’d be making less than UI so she closed her business in June 2020 and probably went on UI herself. Even business owners can make more on UI than working. Thus child care is more expensive and out of reach for low wage workers who want to go back to work.
- runnerup 5y agoYeah I totally understand there are edge cases. But in aggregate, there are typical/very normal levels of unemployment. So if someone is saying "I can't hire people because no one wants to work"...I'm having trouble seeing how that's any more true now vs. in 2014, 2006, or 1999.
- fundad 5y agoAgreed, The leisure economy is stimulated most widely by the vaccine. People who took the virus seriously didn’t spend on experiences as much until now and it seems that’s a lot of customers.