Paying people not to work when there are millions of jobs open is insane and could destroy any robust economy. However, that’s the reality we are living in with Biden’s blowout spending package, which extends unemployment benefits through September.
The average state unemployment benefit is $318 per week. The Feds added $300 on top of that amount for a total of $618 per week. That’s equivalent to $32,136 per year or $15.45 per hour. It apparently does pay to sit at home.
According to a recent article in the Wall Street Journal, the University of Chicago found 42% of people currently receiving unemployment benefits are making more now than they did at their previous job. In the same article, a former concert promoter in Los Angeles, who lost his job during the pandemic, said, “If the government is going to pay you to stay home, you’re going to do that unless that job you really want comes along.”
According to the recent April jobs report, 7.4 million jobs are available. Work is out there, but not workers. I couldn’t eat at a local restaurant the other night because they did not have the capacity to operate their main dining room due to a lack in staff.
We’re getting a live action preview of socialism. Let’s hope Americans and Oklahomans put a stop to this quickly.