There are so many conflicting signals when it comes to employment in America you need a full-time analyst to keep you abreast of the changes.
Here’s some facts. There are so many open jobs that business can’t fill right now in the U.S. that anyone looking for job would have two or three options if they wanted.
Fact #2 – for those living off the free government money the past year or so, the gravy train is about to end for many as over 400,000 people who were receiving unemployment benefits are going to find that check is no longer waiting for them in the mailbox.
There are eight states that are saying no thanks to the pandemic relief program and dropping out early as of Sunday. That cuts off payments of $300 per week that were going out.
There were four other sites that decided to halt the assistance program early last week, and another 14 states are going to do the same thing later this summer.
All of those states are led by a Republican Governor, except for Louisiana.
Now about that shortage of American workers in multiple industries. The Labor Department reported that April and May’s job growth was well below expectations.
There is some data that shows ending the unemployment benefits early as some states have has led to an uptick of about 5% in job searches. About 14.8 million workers say that some form of unemployment is their main source of income.