The good news is, jobless claims in the U.S. hit their lowest level since the pandemic. The bad news? Too many employers are still having a hard time filling jobs.
Yes, it's good that -only- 547,000 new people filed for unemployment. But, it's bad, that 547,000 still had to file for unemployment.
Policy scholar Merrill Matthews, an expert on the topic told KTRH that the reason is still the same. Under the Biden administration, it pays not to work.
"Employers have had a struggle for awhile, in large part because unemployment benefits coming from the federal government have just made it easier for people to say no" Matthews says. "It's becoming harder and harder for employers to find people who are willing to work."
On top of that, when you add on stimulus money, state unemployment benefits, and the upcoming child care tax credit, some workers will be able to make a career of staying at home.
"This administration simply does not seem to understand economic incentives" Matthews says. "You want a safety net, not a hammock."
The big question now is, will that change as need goes up over the summer? Along with higher taxes and inflation?
As much as Democrats want to take credit for the lower jobless claims, the unemployment rate in the nation is still at 6%. And as Matthews points out, right before the pandemic under President Trump, that number was at a near record low of 3.5%! "It was just a very good economy."
Hopefully we can get back on track.