Anecdotes are just that and nothing more.
States that withdrew early from federal unemployment programs pushed few people back to work and fueled a nearly $2 billion cut in household spending, potentially hurting their local economies, according to new research....
The data suggests unemployment benefits aren't playing a big role in hiring challenges and that other factors are having a larger impact — a similar thrust to other recent research analyzing the policy decisions.
States that withdrew early from federal unemployment programs saw households cut spending by nearly $2 billion through early August, according to a new study.
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Not sure I really trust anything published by NBC these days. The word "Potentially" is not a really definitive research conclusion. I could potentially win the lottery by buying a ticket.
Sure, if states like Iowa accepted the additional unemployment benefits that money would have been spent by recipients. Most large corporate CEO's in the retail sector love extended benefits because people continue buying consumer discretionary items.
IMO states like Iowa were being responsible. There was a labor shortage, so why continue expanded unemployment benefits. If reducing unemployment benefits didn't fill the open positions, IMO that just shows the expanded benefits weren't needed. Money was not a issue for those choosing not to return to work.
The JD strike could take a while to resolve because of the inflation resulting from all the Federal Government spending over the last 18 months. I am sure the JD union & employees are going to have to readjust their cost of living assumptions to annual salaries based on the current inflationary environment.
Our Federal Government's easy money policy will do nasty things to America's economy and people's spending power. Many American's have not lived through periods of hyper inflation or high interest rates. In the mid-80's mortgage borrowing rates were in the 10-15% range and consumer credit rates were 20%+.
I will be curious how the Union Negotiators look at the National Economic outlook over the next 6 years and they might have to consider scenarios that have not impacted wage earners for close to 40 years.