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So now that the extra $600 per week extra unemployment has ended, have all those freeloaders rushed back to work? Is there no more unemployment? No one is being laid off now that the extra money has stopped?
I suspect that lots of those people still don't have a job, but now have no money for rent.
I worked all through this time, but will be laid off in two weeks, after 5 years on this job. I guess my employer didn't want me to become dependent on that extra unemployment money so waited until it ran out.
So now that the extra $600 per week extra unemployment has ended, have all those freeloaders rushed back to work? Is there no more unemployment? No one is being laid off now that the extra money has stopped?
I suspect that lots of those people still don't have a job, but now have no money for rent.
I worked all through this time, but will be laid off in two weeks, after 5 years on this job. I guess my employer didn't want me to become dependent on that extra unemployment money so waited until it ran out.
So sorry to hear that, good luck. I suspect you won't be alone. Most companies have run out of their PPP money or will shortly and will be forced to lay off employees or shut down without help.
So now that the extra $600 per week extra unemployment has ended, have all those freeloaders rushed back to work? Is there no more unemployment? No one is being laid off now that the extra money has stopped?
I suspect that lots of those people still don't have a job, but now have no money for rent.
I worked all through this time, but will be laid off in two weeks, after 5 years on this job. I guess my employer didn't want me to become dependent on that extra unemployment money so waited until it ran out.
I don’t think it’s a matter of freeloaders. Lots of people simply have no provisions for a catastrophic event. The real problem is that there isn’t enough money to keep covering the costs of giving all these people money until the economy gets back on track. Whenever that may be.
The government is spending future money to cover things today. If you or i tried doing that we would go bankrupt.
I don't have any hard data, but here's my impression on it.
Of my white collar friends and acquaintances, relatively few were laid off. Other than some coworkers in my IT department (most of whom were brought back from furlough, many others found something else), I'm struggling to think of anyone I'm close to with a degree and white collar experience who is out of work. Many of us have not had an income cut and are saving at least some money telecommuting.
The vast majority of the people I know who have been out of work are in restaurants, bars, events (anything catering to crowds), or required an onsite presence at a place that is otherwise closed. My aunt runs a painting company whose primary customer is a hospital system, which has stopped all work like that. Their painting company folded.
My cousin, who worked for the painting company and made $11/hr, was rolling in high cotton with the UI checks. I had two other cousins who were laid off from their retail jobs. All were making more on UI than their regular jobs.
I've been to several restaurants who are open for dine-in irregularly due to a lack of staff. "Now hiring" signs are everywhere - granted, not the best of jobs, but work is available.
I don't have any hard data, but here's my impression on it.
Of my white collar friends and acquaintances, relatively few were laid off. Other than some coworkers in my IT department (most of whom were brought back from furlough, many others found something else), I'm struggling to think of anyone I'm close to with a degree and white collar experience who is out of work. Many of us have not had an income cut and are saving at least some money telecommuting.
The vast majority of the people I know who have been out of work are in restaurants, bars, events (anything catering to crowds), or required an onsite presence at a place that is otherwise closed. My aunt runs a painting company whose primary customer is a hospital system, which has stopped all work like that. Their painting company folded.
My cousin, who worked for the painting company and made $11/hr, was rolling in high cotton with the UI checks. I had two other cousins who were laid off from their retail jobs. All were making more on UI than their regular jobs.
I've been to several restaurants who are open for dine-in irregularly due to a lack of staff. "Now hiring" signs are everywhere - granted, not the best of jobs, but work is available.
You Sir have pretty much nailed things down!
This covid-19 pandemic has largely produced a tale of two cities economy. White collar, professionals, tech, and other employment sectors largely dominated by those holding four year or post-graduate degrees are doing fine. That is unless persons work in sectors badly hurt by closings or whatever (hospitality, some retail, etc..).
My UPS guy is making money these past several months hand over fist. There is so much work he's banking mucho OT.
Yes, there is work out there for those wanting. Places like Lowes, Home Depot, restaurants doing take out only or dining outdoors were starving for help when that $600 was on table. First week of August when that was all over, applications shot up. Local moving company here in NYC said they couldn't get people from March through end of July, this while business was so booming guys were bringing home $1500 per week. Again once that $600 ended applications or responses to job adverts went up.
I have noticed lots of now hiring signs for low wage business going up lately. Even the local Starbucks has put out a huge banner and sign, which is very unusual.
It is like after the Great Recession. People learn how to survive and decide it is better than working low wage.
Majority of people under 30 are now living with their parents.
Debate Rages On - Generous UI Benefits Cause People Not To Work, Or Do They?
My son's high school friend is a bartender at the restaurant where my son also waits tables (both make good money in the form of tips, for kids), but the friend only worked one day a week because he made more with the $600 weekly "UI bonus" than he would while working. That's an anecdote but my son insists a lot of his college friends also stayed home and collected the $600 weekly "bonus" when they could have been working.
Right now the restaurant stays closed on Tuesdays because (according to my son) they have trouble filling all the shifts 7 days a week so they close on the slowest day. Again, an anecdote. But how many anecdotes before it's considered data?
I am against new "extra unemployment bonuses" that would only encourage people to stay home.
My son's high school friend is a bartender at the restaurant where my son also waits tables (both make good money in the form of tips, for kids), but the friend only worked one day a week because he made more with the $600 weekly "UI bonus" than he would while working. That's an anecdote but my son insists a lot of his college friends also stayed home and collected the $600 weekly "bonus" when they could have been working.
Right now the restaurant stays closed on Tuesdays because (according to my son) they have trouble filling all the shifts 7 days a week so they close on the slowest day. Again, an anecdote. But how many anecdotes before it's considered data?
I am against new "extra unemployment bonuses" that would only encourage people to stay home.
The reality is there really is not enough jobs to go around if everyone who should be working went back to work ,so it is better that the available jobs go to those who really need to work and want to work ....unemployment will eventually end and those that should have been working but held back may not be able to work at all ,with no more unemployment available.....
Historically, no free money ever encouraged anyone to desire work. It never happened.
Also, those trillions are not really free. Someone will pay them off years and years and years to come.
Simple example. GB reached huge debt towards the end of the WW2, to be able to pay off military expenses. They also printed a bunch of money.
You know, when they paid it all off? In 2006. Practically, anyone born after 1945, was paying off debt on a war, they never witnessed or were part of.
It is "nice" to take money now. Payback will be long and painful, though.
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