The White House and some Congressional Republicans have proposed offering some form of “back-to-work” bonus.
One proposal, from Sen. Rob Portman, R-Ohio, would give returning workers an extra $450 a week. Rep. Kevin Brady, R-Texas, suggested a $1,200"hiring bonus" that would allow workers to keep their $600 payments for a further two weeks once they were employed again.
While generous unemployment assistance can slow re-entry into the workforce, the extreme demand-side shock characterizing this recession makes it much likelier that workers are drawing unemployment because they can't find jobs, Strohl said. Strohl pointed out that nearly half of job losses — 46 percent — have occurred among workers with high school educations or less, making the supplemental payments a critical stopgap."That $600 is going to make or break a household there," he said.
While enhanced unemployment benefits have"shielded millions of people from the financial consequences of unemployment," turning off the stimulus tap too quickly would"trigger a financial hard landing for everyone who has not been called back to work," said Ian Shepherdson, chief economist at Pantheon Macroeconomics.that most out-of-work Americans spent their benefits on necessities, helping to stimulate demand and drive economic activity.
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