15 Jun

Who Would Have Thought?

Williams: Expanded Unemployment Benefits A Powerful Disincentive To Find Work. Jonathan Williams, executive vice president of policy and chief economist at the American Legislative Exchange Council, wrote in The Hill (6/13) that “economists across the ideological spectrum” agree that expanded unemployment benefits “would encourage people not to work, thereby slowing economic recovery. This should be a key lesson for all of us to remember from economics 101: When you tax people who work, and pay people who do not work, no one should be surprised when we have fewer people looking to work.” Williams notes NFIB findings that small business optimism has increased, but a record proportion of business owners reported an inability to fill job openings. NFIB Chief Economist Bill Dunkelberg is quoted saying, “Small business owners are seeing a growth in sales but are stunted by not having enough workers. Finding qualified employees remains the biggest challenge for small businesses and is slowing economic growth. Owners are raising compensation, offering bonuses and benefits to attract the right employees.”

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