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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding
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To: John Vosilla who wrote (5395)4/26/2020 7:46:50 AM
From: elmatador  Read Replies (2) of 13796
 
Then there are New York’s unemployment benefits...earning more from unemployment benefits than their previous jobs, giving them little incentive to apply for the glut of new low-wage positions.

ELMAT: There is someone wantng to win an election doing out money !

It’s one of 44 states dispersing an extra $600 in weekly unemployment payments. The extra funds come from the Federal Pandemic Unemployment Compensation program, part of the $2.2 trillion coronavirus relief package Congress passed in late March.

All told, the state Department of Labor had paid $2.2 billion in unemployment benefits to 1.1 million New Yorkers, between the coronavirus pandemic’s escalation in mid-March and last Tuesday.

The result: Lower-wage jobless New Yorkers like Lockhart are often earning more from unemployment benefits than their previous jobs, giving them little incentive to apply for the glut of new low-wage positions.

Then, there are the available jobs – positions such as cashiers, delivery drivers, shelf stockers, order fillers, equipment operators and warehouse associates. About a dozen large U.S. firms have been trying to hire almost 500,000 Americans since late March.



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