Posted on 07/22/2021 7:59:31 AM PDT by SeekAndFind
This was not supposed to happen.
Initial jobless claims jumped significantly last week as 419,000 Americans filed for jobless benefits for the first time (well above the prior week's 368k and expectations of a 350k print)...
Source: Bloomberg
Michigan and Texas saw the biggest jump in claims while New York and Oklahoma saw the best improvement...
'Traditional' continuing claims were basically unchanged over the prior week's revision.
There is some good news though, the total number of claims plunged by over 1.2 million last week (driven by a plunge in pandemic specific aid as states began shutting off the handouts)...
But, we note that overall, there remains over 12.5 million Americans on some form of government dole...
Source: Bloomberg
For context, that compares to the less than 2 million pre-pandemic-lockdowns.
Socialism trips
I just retired a few weeks ago. SS is a big help. :)
And, if anyone thinks this is a GOOD thing, then Biden will take credit for it.
If anyone thinks it is a BAD thing, it will be Trump’s fault.
Congratulations!
........workers so hard to come by in my small Central Texas town that I just noticed this morning a LARGE 40’ plus billboard advertising a $1,000 to $5,000 hiring bonus for people to work in snack bar at a Marina.
do illegals have a time limit on the government “freebies”?
And now all those workers who chose to not work because they were getting a government check, are going to find out that employers won’t exactly be thrilled about hiring them.
I’m actually on the internet a lot less. I spent a lot of time in boring and irrelevant WebEx meetings, posting here. Now I’m mostly too busy. :)
I’m back working, too. Just had to get out of the house. Good situation popped up, thankfully.
The chart shows TX second in claims. Ridiculous.
During the lockdowns, TX was working even the “essential” nail salons. We could barely get up and down the street due to all the construction workers, lawn crews and all the housekeepers for the influx of tourists. There’s an annoying beep, beep, beep right now from construction equipment and hollering tourists. Parking lots were/are full and street traffic was always the same. Houses are being sold left and right and there are tons of new boats on the lake.
People have more money than they ever have had. Government checks might pay for vacations but not houses and boats.
ex-workers who chose not to work....
True.
Somewhere there was a clickbait article a few days ago “Employers can’t fill job needs as people say they want more money, more benefits and better work environments to accept jobs.”
Good luck on that.
To fellow Michigan FReepers: See the chart? We’re Number One at something in Michigan again. Tell Whitmer we’re “hooked on a feeling” as BJ Thomas sang. Number One.
It shows Texas second in weekly change, not necessarily overall claims.
The raw data is available somewhere, if you’re challenging the accuracy of the chart.
Red State Republican governors cut off federal funds coming back into their states where it would be spent in the state. The red states were the source of that money to start with. So in effect Republican governors are allowing their own states money to be redistributed to the blue states that continue to accept the federal money.
In other words. Red states are cutting off their nose to spite their faces. It's typical Republican stupidity when it comes to government.
Government stupidity is increasing government benefits, which increases government dependency. Not taking federal unemployment “bonus” money is wise, as it decreases government benefits, which decreases government dependency. Red state governors are making wise choices in this regard.
There’s a reason parks have signs that say “Don’t feed the bears or ducks or squirrels.” When you feed them, they become dependent on your handouts. Increasing unemployment benefits produces the same results, as it results in more people remaining unemployed longer.
Oh, noes.
What ever are they going to do?
Get jobs?
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