(RightWing.org) – America is still recovering from its worst economic collapse since the Great Depression of the 1930s. Unemployment figures rose to mind-numbing highs last year, and nearly 10 million people remain unemployed.
On May 7, the Bureau of Labor Statistics released its jobs report for April. The figures were disappointing, to say the least. CNBC reported that the Dow Jones expected the creation of 1 million new jobs and a 5.8% unemployment rate. As it turned out, the jobs report showed the creation of only 266,000 jobs, and unemployment rose to 6.1%.
The US Chamber of Commerce responded by issuing a statement later that day, calling for the Biden administration to end the $300-weekly supplemental unemployment benefit payments.
Calls to cancel pandemic-era extended unemployment benefits intensified this week as worries over a labor shortage gained steam, culminating in a crescendo on Friday after a wildly disappointing jobs report for April. https://t.co/Zb1DMKIXn5
— Robert_Fiore (@Robert_Fiore) May 9, 2021
The Chamber’s Executive Vice President Neil Bradley said “the disappointing jobs report” showed that “paying people not to work” wasn’t working. According to Bradley, the $300 benefit payments resulted in about 25% of the recipients taking home more money from unemployment than they would have earned returning to work.
Conservatives have been warning all along that paying people to sit at home instead of working would harm the nation’s economy. The new jobs report and US Chamber statement prove they were right.
Copyright 2021, RightWing.org
