BusinessExperts Say Prematurely Ending Federal UI Could Harm Economy

Experts Say Prematurely Ending Federal UI Could Harm Economy

-

- Advertisment -sslate

More than twenty states are voluntarily ending their participation in a federal unemployment program, but Gov. Andy Beshear says he’s not ready to do that yet.

Experts say prematurely ending the extra $300 a week authorized by the American Rescue Plan could harm Kentucky families and the economy. The extra pay is slated to expire on September 6.

Dustin Pugel, senior policy analyst with the Kentucky Center for Economic Policy pointed out the money has helped gig workers, independent contractors, and other workers left out of the system.

unemployment

“Unemployment insurance hasn’t been meaningfully changed since it was created 80 years ago,” said Pugel, “in terms of its function and who it serves.”

Beshear has he said would consider ending the extra benefits before the fall.

U.S. Senate Minority Leader Mitch McConnell – R-Louisville – and others have called for immediately ending participation the program, arguing the extra money is preventing people from seeking employment and harming businesses who need workers.

Pugel added the benefit has brought almost $4 billion into Kentucky since the start of the pandemic.

“And since the $300 benefit was reinstated it’s brought in $360 million,” said Pugel. “And I credit this benefit in large part to ensuring that we didn’t have an even worse employment situation.”

And while critics say the program disincentivizes people from seeking work, Pugel says the data indicates otherwise.

“But we’re seeking the exact opposite,” said Pugel,. “Leisure and hospitality accommodation and food services, they really rebounded incredibly compared to how many jobs they lost.”

He says that if Kentucky were to get rid of the $300 a week in benefits it would cost the state an estimated $229 million.

Sunshine Slate
Sunshine Slatehttps://www.sunshineslate.com
Sunshine Slate is your news, entertainment, music fashion website. We provide you with the latest breaking news and videos straight from the United States of America.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Florida Student groups defend Palestinian rights with lawsuits against state officials

The Students for Justice in Palestine chapters at the University of Florida and the University of South Florida are filing lawsuits against the deactivation orders

The Benefits of Booking Your Holy Journey in Advance for 2024

If you are planning to do Umrah for the first time, several things might confuse you.

Heat crisis in Florida prisons: Lawmakers urged to add air conditioning

Florida lawmakers are being asked to use the winter months to swiftly install air conditioning in prison housing units before the return of scorching summer temperatures.

Which Natural Stone is Best for Your Kitchen Benchtops?

By the end of this post, you will have a better understanding of the pros and cons of each natural stone option, and you will be able to make an informed decision for your kitchen renovation project.
- Advertisement -

Network Readiness Index 2023: U.S. still #1, U.K. climbs to #10

Network Readiness Index 2023: U.S. still #1, U.K. climbs to #10, and China among top 20 despite advanced economies leading the way in network readiness

Community activists engage in hands-on beach cleanup Initiative

environmental activist Merle Liivand has seen a rise in plastic waste while navigating the Intracoastal canals of South Florida over the years and has decided to take action.
edealo.com
- Advertisement - Motel 6
transformerscon

Must read

Best Apps and Games for your New Mobile Phone

We can install any app from the google play store very quickly. Let’s take a look at some most amazing apps for android mobile phones.

Tips and Tricks For Maximising Business Productivity with Dynamics 365

As a result, let’s discuss leveraging Dynamics 365 to its fullest potential. We'll uncover tips and tricks that not only enhance your understanding of this dynamic solution but also amplify its impact on your business.
- Advertisement -
- Advertisement -sslate

You might also likeRELATED
Recommended to you