Suspend the debate a moment and just consider unemployment compensation as it is being paid now, and what it likely will do.
99 weeks is almost two full years. If it is extended another 13 months...we are now at 3 years and running.
Again, suspending the debate over whether it should or should not be extended, where do we go from there?
We are at 9.8%...which in reality is likely around 15%.
What can be expected when the economy returns?
Absolutely in NO way will we see it go back to 4-5% anytime in the near future, doubtful in this new decade.
Companies everywhere, including my own, have found ways to be more efficient and to operate with less of everything - not just people.
So when things return - you think business owners are simply going to announce "hey - let's go back to being innefficient and start buying those supplies we don't really need now that we are doing better"?
Um...no.
So even when things get better, as they have been for 4 straight months, employment will not follow. Many, many of these people will not be rehired.
Simply shutting off the compensation to millions of people would be a disaster to the economy. Disaster.
So what do we do?
How long can it go on?
What is the "new normal" for unemployment levels? 7-8%?
How do we deal with that?
It disturbs me that these questions are not being asked.
99 weeks is almost two full years. If it is extended another 13 months...we are now at 3 years and running.
Again, suspending the debate over whether it should or should not be extended, where do we go from there?
We are at 9.8%...which in reality is likely around 15%.
What can be expected when the economy returns?
Absolutely in NO way will we see it go back to 4-5% anytime in the near future, doubtful in this new decade.
Companies everywhere, including my own, have found ways to be more efficient and to operate with less of everything - not just people.
So when things return - you think business owners are simply going to announce "hey - let's go back to being innefficient and start buying those supplies we don't really need now that we are doing better"?
Um...no.
So even when things get better, as they have been for 4 straight months, employment will not follow. Many, many of these people will not be rehired.
Simply shutting off the compensation to millions of people would be a disaster to the economy. Disaster.
So what do we do?
How long can it go on?
What is the "new normal" for unemployment levels? 7-8%?
How do we deal with that?
It disturbs me that these questions are not being asked.