Calls are growing for the federal government to end $300-a-week federal unemployment benefits. Crucial Quote“The disappointing jobs report makes it clear that paying people not to work is dampening what should be a stronger jobs market,” Bradley said. ContraFederal Reserve Chairman Jerome Powell said at a news conference last week it was “not clear” the federal benefits were causing a labor shortage. The average weekly state unemployment payment is $387, according to the Center on Budget and Policy Priorities, which goes to $687 with the $300-a-week federal boost. Further ReadingThese States Are Dropping Federal $300-A-Week Unemployment Benefits (Forbes)U.S. Added 266,000 Jobs Last Month—Far Worse Than Expected As 9.8 Million Americans Remain Unemployed (Forbes)Full coverage and live updates on the Coronavirus

Source: Forbes May 07, 2021 16:30 UTC