Unemployment across the State remained basically steady. Officially the rate moved from 9.6% in April to 9.7% in May.
I suspect that this number not moving down causes great worry in the governor’s office. And it should; she is contributing to the rate staying so high.
Consider:
A job at minimum wage over 40 hours is $7.25 x 40 = $290.00
Unemployment benefit c heck is $297.00.
The marginal benefit of working 40 hours is $7.00.
Do you think that pressure is going to add to unemployment or reduce it?
Governor Purdue, please remove your executive order restoring benefits with that Federal money. You are making it harder to bring that number down.
The amount and duration of unemployment benefits are certainly not helping the employment situation. The incentives created by such as system increase idleness, thus atrophying skills and making one less desirable to employers.
The amount and duration of unemployment benefits are certainly not helping the employment situation.
Correct. And the failure of the Left to acknowledge that “incetives” and “large groups of people” don’t have anything to do with it is maddening.
Here is another way that the method used for determining the unemployment rate is flawed. Many of the teaches that I work with were given lay-off notices that took effect at the end of the school year. They will likely be called back in September, but for now they are technically unemployed, so they are able to draw unemployment benefits all summer. How wacky is that? Schools are closed. Even if the teachers were not unemployed, they would not be working until September. Until the end of August, they still receive their health insurance. Since the school year has already been completed, the layoff does not adversely effect their retirement pension. There is really no disadvantage to being on lay-off. Since the teachers will likely be called back to work in September, they are not actively searching for another job. Why are they entitled to unemployment benefits?
Wow that’s crazy
Here is another way that the method used for determining the unemployment rate is flawed.
Yup.
Lot’s of industry is like that.