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Bidenomics is proving a total disaster that could send America back to stagnant ‘70s

by capitalizefinancial
June 13, 2021
in Sports
0
Bidenomics is proving a total disaster that could send America back to stagnant ‘70s

Bidnomics is proving to be an utter disaster for American workers and consumers, and don’t bet on it ending anytime soon.

With the pandemic all but more – more than half of American adults have been fully vaccinated, and transmissions have fallen through the floor – the economy wants to come back to life. Job opportunities rose to 9.3 million in April, the highest number since the Labor Department began collecting figures in 2000, and a million more than in March, announced last week.

But businesses are having trouble filling those places: 3.5 million Americans are still on unemployment benefits, the Fed also revealed. This is a huge drop from the 19.2 million at the height of COVID, but still double the pre-COVID level, even though almost all job-killing restrictions are not in place.

An obvious problem lies in President Joe Biden’s COVID “relief” package, which extended the $300-a-week federal unemployment supplement through Sept. Employers nationwide cite this as why they can’t bring back workers without big pay increases, and a University of Chicago study found that 42 percent of those seeking benefits are earning more than they did while working. Huh. Why go back to work when you can take a few more months of paid leave?

Read more…

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