Unemployment benefits and the economy

[TexasHusker]

So there's been a lot of debate about states that opted to end the federal bonus unemployment benefits early. Texas is ending the Federal unemployment stipend in a couple of weeks. Voila! We have persistently been about 5 team members short at our businesses, and suddenly we have applicants, and look to be fully staffed soon!

It's so refreshing not having to compete against our precious tax dollars for employees!

[Nutria]

We have persistently been about 5 team members short at our businesses, and suddenly we have applicants, and look to be fully staffed soon!

Color me not surprised. Universal Basic Income is going to cause the same problems.

[TexasHusker]

Color me not surprised. Universal Basic Income is going to cause the same problems.

I've always thought the government did a lot better job governing than social engineering...

[bjl584]

Pennsylvania's runs until early September.
I drive past tons of help wanted signs everyday on my way to work.
I don't know if it can all be blamed on the beefed up unemployment benefits, but it doesn't help.
Why go work in the thankless service industry and get your head beat in everyday when you can sit at home and make close to the same money?

[LivingAlmostLarge]

I don't think it's like there necessarily everywhere. And I heard teen employment is the highest ever. Why? I asked the young boy scooping my ice cream what he makes $17/hr. To scoop ice cream!

[TexasHusker]

I don't think it's like there necessarily everywhere. And I heard teen employment is the highest ever. Why? I asked the young boy scooping my ice cream what he makes $17/hr. To scoop ice cream!

How much is a single scoop costing these days?

[bjl584]

I don't think it's like there necessarily everywhere. And I heard teen employment is the highest ever. Why? I asked the young boy scooping my ice cream what he makes $17/hr. To scoop ice cream!

https://www.cnbc.com/2021/05/07/desp...e-in-luck.html

Teenage unemployment rate is just over 12%.
Lower than this time last year due to the pandemic.
Lots of opportunity for teen workers.
Time will tell how many take advantage of that opportunity.

[Fishindude77]

Yep, they stopped the added unemployment $$ in my state June 1st and I've heard similar, people are going back to work.

[kork13]

Just to mitigate the echo chamber effect... Keep in mind that there are a variety of additional influences in play here besides merely cutting off the federal unemployment boost. To name a few: (1) the growing numbers of people receiving the COVID vaccine; (2) the continued decline of COVID cases; (3) mid-May loosening of mask wear/distancing guidelines by the CDC; (4) continuation of many opportunities for people to work remotely or under other flexible work options; (5) continuing recovery of accordion-like supply/demand influences on available resources; ........ and on, just listing a few.

While the net reduction in unemployment payments is certainly a significant direct influence for many people, it's important to recognize that there are alot of structural and market based influences also moving things along in the background.

[Fishindude77]

Just to mitigate the echo chamber effect... Keep in mind that there are a variety of additional influences in play here besides merely cutting off the federal unemployment boost. To name a few: (1) the growing numbers of people receiving the COVID vaccine; (2) the continued decline of COVID cases; (3) mid-May loosening of mask wear/distancing guidelines by the CDC; (4) continuation of many opportunities for people to work remotely or under other flexible work options; (5) continuing recovery of accordion-like supply/demand influences on available resources; ........ and on, just listing a few.

While the net reduction in unemployment payments is certainly a significant direct influence for many people, it's important to recognize that there are alot of structural and market based influences also moving things along in the background.

My opinion, for what it's worth.
Covid or not, those added unemployment benefits allowed a whole lot of the average working class people $15-20/hr range to stay home and play, making nearly the same amount of $$ had they been working 40 hours. I guess I can't really blame them for that behavior either.
Long as the money was continuing to come in, why not take it and goof off for a while, get some projects done around the house, have some family time, etc. Since all of this stuff was provided under the guise of "covid relief", they didn't get fired and the jobs were there for them to return to soon as the freebees ran out.

[Petunia 100]

My opinion, for what it's worth.
Covid or not, those added unemployment benefits allowed a whole lot of the average working class people $15-20/hr range to stay home and play, making nearly the same amount of $$ had they been working 40 hours. I guess I can't really blame them for that behavior either.
Long as the money was continuing to come in, why not take it and goof off for a while, get some projects done around the house, have some family time, etc. Since all of this stuff was provided under the guise of "covid relief", they didn't get fired and the jobs were there for them to return to soon as the freebees ran out.

No, you really can't fault people for acting in their own best interests.

[LivingAlmostLarge]

How much is a single scoop costing these days?

I believe it is $3.65 for kids and $4.25 single and $5.50 double. $1.50 waffle cone. I only know because I've gone out for ice cream with 3 different friends recently who bought it for me in a row. Bad for waist, good for fun.