A Quote by Harry Reid
Unemployment insurance was meant to be a bridge for temporary spells of unemployment. The bad news is all the evidence is that the longer you have unemployment insurance, the longer people stay out of work, their skills erode. The job they ultimately get pays less. And that's not to their benefit.
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The more generous the benefit, the easier you make it to stay on unemployment insurance, and the less incentive there is for people to actually go out and do what it takes to get a job.
They keep extending these unemployment benefits to the point where people are afraid to go out and get a job, because the job doesn't pay as much as the unemployment benefit does.
People respond to incentives. If unemployment becomes more attractive because of the unemployment benefit, some unemployed workers may no longer try to find a job or may not try to find one as quickly as they would without the benefit.
Policy makers should be compelled to take action given the serious costs of long-term unemployment when overall unemployment is already high. A week of unemployment is worse when it is experienced as part of a longer spell.
I've heard the argument that unemployment benefits somehow act as a disincentive to the long-term unemployed when it comes to looking for work, but the opposite is true. Unemployment Insurance serves as a powerful incentive for people to keep searching for jobs, rather than drop out of the labor force altogether.
Well, all across the country, this is kind of sad, unemployment offices are swamped with people waiting to file for unemployment insurance. It's gotten so bad that the offices are overwhelmed and can't function. I got an idea. Why don't you hire more people? They're right there in line. Speed this whole thing up!
Unemployment insurance, abolishing child labor, the 40-hour work week, collective bargaining, strong banking regulations, deposit insurance, and job programs that put millions of people to work were all described, in one way or another, as 'socialist.' Yet, these programs have become the fabric of our nation and the foundation of the middle class.
All of the progress that the US has made over the last couple of centuries has come from unemployment. It has come from figuring out how to produce more goods with fewer workers, thereby releasing labor to be more productive in other areas. It has never come about through permanent unemployment, but temporary unemployment, in the process of shifting people from one area to another.
The eligibility for food stamps has widened and widened; welfare has been widened - unemployment insurance and disability insurance. These are all incentives not to work.
Programs like food stamps, unemployment insurance, Medicaid, and job retraining help Americans get back on their feet when they are down and out and laid off through no fault of their own.
Generous unemployment benefits can increase both structural and frictional unemployment. So government policies intended to help workers can have the undesirable side effect of raising the natural rate of unemployment.
There should be unemployment insurance for fictional people.
There's no unemployment insurance if you don't have a job in wrestling. You really have to be committed, to have a love and a passion for the sport, a belief in yourself that you can do it.
Long-term unemployment is particularly costly to those directly affected, of course. But in addition, because of its negative effects on workers' skills and attachment to the labor force, long-term unemployment may ultimately reduce the productive capacity of our economy.
You know, there is an argument to be made that these extensions of unemployment benefits keep people from going and finding jobs. In fact there are some studies that have been done that show people stay on unemployment compensation and they don't look for a job until two or three weeks before they know the benefits are going to run out.
The black unemployment rate has to be twice that of the white rate in the US. If the national unemployment rate were 6.8 percent, everyone would be freaking out. We ought to not take too much solace in the 6.8 percent, but ask ourselves what can we do to bring that down to white rates, which are below 4 percent now. Some of that has to do with education, but that's just part of the story. You find that those unemployment differentials persist across every education level. I think it means pushing back on discrimination and helping people who can't find work get into the job market.
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