Montana Is First State To Cancel Unemployment Benefits In Response To Unprecedented Worker Shortage
Published: May 6, 2021
Three weeks ago, when looking at the unprecedented labor shortage that is crippling the US economy (even with some 100 million Americans not in the labor force).
.we said that there is a simple reason for this paradoxical phenomenon:
trillions in Biden stimulus are now incentivizing potential workers not to seek gainful employment, but to sit back and collect the next stimmy check for doing absolutely nothing in what is becoming the world s greatest under the radar experiment in Universal Basic Income.
Consider the following striking anecdotes from Bloomberg:
Montana Cancels Unemployment Benefits in Response to Unprecedented Worker Shortage
First state to make move as businesses struggle to lure workers off the dole
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Three weeks ago, when looking at the unprecedented labor shortage that is crippling the US economy (even with some 100 million Americans not in the labor force)…
…we said that there is a simple reason for this paradoxical phenomenon: trillions in Biden stimulus are now incentivizing potential workers not to seek gainful employment, but to sit back and collect the next stimmy check for doing absolutely nothing in what is becoming the world’s greatest “under the radar” experiment in Universal Basic Income.
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US Chamber Of Commerce Urges Biden To End Pandemic Handouts: Paying People Not To Work Is Killing The Recovery
by Tyler Durden
Friday, May 07, 2021 - 04:11 PM
Update (1055ET): Right on cue, just after Minneapolis Fed chief Neel Kashkari admitted that expanded unemployment insurance was keeping workers out of the labor market, contributing to Friday s disappointing employment number, the US Chamber of Commerce released a statement calling for ending the $300 weekly supplemental benefit.
Executive Vice President and Chief Policy Officer Neil Bradley released the following as a statement, saying that while there might have been a time when the benefit was needed, that time has now passed.
May 7, 2021
Three weeks ago, when looking at the unprecedented labor shortage that is crippling the US economy (even with some 100 million Americans not in the labor force)…
…we said that there is a simple reason for this paradoxical phenomenon: trillions in Biden stimulus are now incentivizing potential workers not to seek gainful employment, but to sit back and collect the next stimmy check for doing absolutely nothing in what is becoming the world’s greatest “under the radar” experiment in Universal Basic Income.
Consider the following striking anecdotes from Bloomberg:
Early in the Covid-19 pandemic, Melissa Anderson laid off all three full-time employees of her jewelry-making company, Silver Chest Creations in Burkesville, Ky. She tried to rehire one of them in September and another in January as business recovered, but they refused to come back, she says. “They’re not looking for work.”