Virus threatens to slam labor market as jobless aid expires

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A weak jobs outlook could further erode Joe Biden's standing with the public.

Congress created three federal unemployment insurance programs to respond to the rush of pandemic layoffs under the March 2020 CARES Act. Collectively, the three programs have been giving jobless workers an extra $300 a week, expanded benefits to those such as gig workers who were not traditionally eligible, and lengthened the duration of state unemployment insurance.

While conservative lawmakers have argued that the programs were too generous and were keeping people from going back to work, research suggests that ending them may actually have the opposite effect: forcing more workers out of the labor market and sharply cutting economic spending. “That's going to possibly create some headwind to the recovery,” Dube said. "The thought was that this was going to accelerate the jobs recovery, I think that's probably too optimistic."

 

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People just want any reason to not work. Mask up, get vaccinated and get a job. GamingTheSystem Lazy

The virus isn't doing it. Government's reaction to the virus is.

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