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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (5524)	5/8/2020 10:41:15 AM
From: elmatador	Read Replies (1) \| Respond to of 13801

Why people support lockdown? With the multitrillion dollar stimulus package workers are asking to be laid off or reluctant to go back to work after being furloughed. Furloughed Workers Don’t Want To Return To Their Jobs As They’re Earning More Money With Unemployment Jack Kelly Senior Contributor An unintended and unexpected consequence of the multitrillion dollar stimulus package is that workers are asking to be laid off or reluctant to go back to work after being furloughed. In an effort to help people financially cope with their job losses in the midst of a pandemic, the federal government—through the Coronavirus Aid, Relief and Economic Security Act (CARES Act)—is providing an extra $600 per week in unemployment benefits. This amount is in addition to what the states already pay, which is in the range of $200 to $300 per week. A person could conceivably earn $1,000 per week on unemployment, depending upon the state he or she resides in. In addition to the enhanced benefits, most Americans, earning less than $75,000 in 2019, received a one-time check for $1,200 and $500 for each child under 17 years of age. Across the United States, many unemployed workers are finding out the same thing. The enhanced federal jobless benefit — when combined with state unemployment insurance — delivers more income to some laid-off workers than they earned when employed. sandiegouniontribune.com Here’s the situation facing companies that have already been financially hurt by the consequences of the COVID-19 outbreak. Consider a worker in an Amazon warehouse. The worker has to be on their feet all day, lift heavy boxes onto and off of high shelves and race around the facility to fulfill orders. Earning a minimum wage of $15 per hour, the person may make pre-tax $525 per week. Think of how many millions of other people work at dangerous, physically demanding or unpleasant jobs earning a similar amount. Not to disparage anyone, but it's enticing for a person to ask to be laid off, so they can earn more money than if they were to work that physically demanding job. They may want to ride out the pandemic safely at home, collect unemployment checks and later return to the job market once things look safer with possibly more available opportunities if the economy improves.