Originally posted by iam416
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A counter to this is that I've seen at least a couple studies now that in the states that cut people off months ago, there hasn't been a return to full employment. They successfully reduced the amount of money being spent by the govt by a LOT, which is a good goal in itself, but the notion that this would force people back to work and eliminate the understaffing problem at shitty jobs hasn't paid off. Although there's some evidence that local economies are seeing less consumer spending now.
https://www.cnbc.com/2021/08/23/endi...tudy-says.html
It's possible that people were able to save enough money during the pandemic that they saw no need to rush back to work despite their unemployment getting cut off. I just think there was too much talk of this being a miracle cure for the underemployment problem. There's a lot of other things still going on. A continuing daycare shortage. Around 2 million more people than expected retired early during 2020 and have left the labor market entirely
https://www.npr.org/2021/08/23/10289...sped-things-up
And this may be an unpopular explanation here but: immigration. The number of people we were legally admitting was steadily dropping during Trump's term and then came to a complete halt when covid hit.
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