It’s not that people don’t want to work, it’s that work is broken
There was a lot of buzz on social media this week with restaurants and hotels claiming they could not find enough workers to fill vacancies – a study by the The conservative NFIB said 44% of companies had no employees. Republicans have blamed the incentive and unemployment benefit payments as disincentives to work. But what is really going on is more complicated.
The Washington Post Reports that many analysts say the delay in hiring is “an anomaly” and that more people will be back to work once vaccinated. Others argue that a lack of childcare is still holding back employment growth – and indeed every 266,000 jobs the economy did In April it went to men, while women actually lost their jobs.
Still others suggest that the nature of low-paying retail work is just … not that appealing to people, and the coronavirus pandemic was the straw that ultimately sparked that realization. “The problem is, we don’t make enough money to make it worth going back to these difficult and dirty and usually ungrateful jobs. You get yelled at and disrespected all day. It’s hell, ”a former retail clerk told the Post.
A meager from the Economic Policy Institute confirms this last theory, noting that while there is some labor shortage, it appears to be mainly limited to recreation and hospitality, which are “very different from other sectors” and are unlikely to affect the labor market in others Sectors. EPI also reiterated that a lack of childcare prevents women from working life and that cutting unemployment benefits on that front would do nothing to get women back into work.
Tighter rules on payday lending are likely to pass Congress
The Senate on Tuesday passed a resolution to repeal a rule that allowed consumers to borrow at interest rates above their state’s ceiling, what consumer advocacy groups widely referred to as a loophole to circumvent payday lending restrictions, The Hill Reports.
The resolution goes to the Democratic-controlled house, where it is expected to be passed, and President Biden has signaled that he will sign it.
While many states cap interest rates on short-term payday loans, banks are generally exempt from these caps, according to the National Consumer Law Center called briefly on the subject. The “true lender” rule, passed in October 2020, allows payday lenders operating out of states that do not limit interest rates to lend to individuals in the state as long as a state bank is the lender on the loan.
“States are taking steps to protect their constituents … their consumers from these finals around their laws banning these predatory practices. But last October, in the midst of the pandemic, when many working-class families got into economic uncertainty and turmoil, the Trump administration gave these Rent-a-Bank programs a free pass to exploit these loopholes, ”said Senator Chris Van Hollen (D -Md .), Sponsor of the resolution to repeal the rule, said The Hill.
New Jersey plans stimulus checks for undocumented residents
Undocumented, low-income people living in New Jersey will receive one-time stimulus checks funded by the CARES bill, Gov. Phil Murphy told NJ.com this week. known reported.
To receive the stimulus payment, people will need to show that they were excluded from other forms of assistance, made less than $ 55,000 in the past year, and were affected by the coronavirus pandemic.
The news comes after 35 key workers went on a month-long hunger strike to raise awareness of the need for financial assistance. Last Friday, these workers said they would end their hunger strike, but stressed that the NJ Fund “would only reach a fraction of the population of marginalized workers and their families, and is nowhere near enough to meet the enormous and urgent needs “.
American Recovery Act Money goes to cities
The $ 350 billion in federal state and city funding is beginning to flow in, various news outlets reported. The US Treasury Department has published Guidance how the funds can be spent. In general, the money can be spent on COVID-19 responses like contact tracing or vaccination clinics; Programs to help businesses and industries recover; Basic wage of employees; Revenue replacement; and water, sanitation and broadband infrastructure.
Not on the list for State lawmakers in Colorado are dismayed: Transport.