Normal May Be A Long Way Off

theotherwaldo

Well-known member
A good part of the driving force for this "recovery" is the fact that an increasing number of states are dropping the COVID bonus of $300 or so per week on top of the regular unemployment checks.
Why work when the government will pay you more to stay home?
That joy ride is coming to an end... .
 

Howland937

Active member
Now many that are "on the dole" are proud of it and envied by others.
I'm going to admit, I asked (jokingly) my boss to lay me off for a month or so back when it was a +$600 payment. Even told him he could forego my paid vacation time for the year. We didn't miss a beat though. May have even been busier than usual.
In all reality, the mask thing really was my only deviation from normal anyway.

Back to your point though, when states tried and failed to implement random drug testing for welfare recipients because it was "too racist", it became pretty obvious where some people's priorities lie.
 

roscoe

Well-known member
Wow, only 10 million short. The Biden recovery is just glorious.

Um, you expect 10 million jobs to be reacquired since January? Why don't you go and look at US employment stats, then come back and tell us what you found. If you can find another 5-month pre-COVID period in which 2.4 million jobs were added to the rolls, you let me know.

Pro tip - you can start here:

 
Um, you expect 10 million jobs to be reacquired since January? Why don't you go and look at US employment stats, then come back and tell us what you found. If you can find another 5-month pre-COVID period in which 2.4 million jobs were added to the rolls, you let me know.

Since we are assigning homework, try to find an employer that isn't hiring. As you search, take note of how many young people you see during the day not working.
 
Wages are rising because businesses are having to compete with government handouts.
-But government statistics aren't going to say that,..
The "entitlement mentality" takes hold quickly in a lot of people. There are entry level jobs unfilled throughout the Midwest offering $25-$35hr and great benefits. What's the catch? You have to show up every day and work.
 

roscoe

Well-known member
The "entitlement mentality" takes hold quickly in a lot of people. There are entry level jobs unfilled throughout the Midwest offering $25-$35hr and great benefits. What's the catch? You have to show up every day and work.

Supply and demand. In this case, it is helping the worker.
 

theotherwaldo

Well-known member
-And the resulting stagflation will hurt the worker - especially after the government handouts expire but the government's spending keeps rising.
 

roscoe

Well-known member
Since we are assigning homework, try to find an employer that isn't hiring. As you search, take note of how many young people you see during the day not working.

Well, anecdotally, my teen-age daughter got one of those jobs,. One of the half-million newly-employed. She shows up every day. And gets well paid. So, she wins, and the employer wins. That is how free-market economics is supposed to work.

Around here, the economy is roaring back. They are already talking about bonuses at work!
 
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Howland937

Active member
Well, anecdotally, my teen-age daughter got one of those jobs, and she shows up every day. And gets well paid. So, she wins, and the employer wins. That is how free-market economics is supposed to work. Around here, the economy is roaring back.
Around here, businesses are cutting back hours of operation due to insufficient staff, all while offering ridiculously high wages + sign on bonuses for menial jobs.

There'll be no need to force a federal minimum wage of $15/hr. It'll surpass that by default soon enough.
 

roscoe

Well-known member
Around here, businesses are cutting back hours of operation due to insufficient staff, all while offering ridiculously high wages + sign on bonuses for menial jobs.

There'll be no need to force a federal minimum wage of $15/hr. It'll surpass that by default soon enough.

Economies often have a lag, as conditions shift faster than people can make accommodations. Soon (say 6 months), things will be recognizable normal. Well, that is my off-the-cuff estimation, anyway. So, basically, a year of disaster, and a year to recover.

People in this forum are looking for things to criticize about Biden, but, ultimately, the president has very little to do about how the economy performs. Sometimes presidents get lucky and ride the wave (e.g. Clinton, Reagan), and sometimes they get unlucky (Carter, Bush 1) and take the hit, and become 1-term presidents. But they only have a few levers to pull, and the Fed controls some of those, anyway.
 
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