Joseph Stiglitz: Ending Unemployment Benefits as Pandemic Rages Is Cruel & Hurts Economic Recovery

As unemployment benefits for millions of U.S. workers expired on Labor Day, with many states suffering the worst surge of the pandemic, economist Joseph Stiglitz says it’s “disturbing” federal aid was allowed to lapse. “This is going to feed into the problems posed by the Delta variant.” Stiglitz also talks about whether Federal Reserve Chair Jerome Powell should stay in the job, saying he has done a “reasonable job” during the pandemic but has a tendency “to side with Wall Street and engage in deregulation.” Source link

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Unemployment rate soars to highest level for more than four years

Britain’s jobless rate has soared to its highest level for more than four years as official figures showed nearly 830,000 workers have been dropped from UK payrolls since the start of the pandemic. The Office for National Statistics (ONS) revealed the unemployment rate reached 5% for the first time since early 2016 in the three months to November after another 202,000 people lost their jobs. Figures for December also showed there were 828,000 fewer Britons on company payrolls since before the crisis struck last February as the pandemic has hammered the jobs market. Our latest labour market statistics have been published https://t.co/SjrYPgXa0e pic.twitter.com/tCrBpXLnkI — Office for National Statistics…

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SNP slams UK government for making ‘a deliberate choice’ to increase unemployment

The UK government has made a “deliberate choice” to allow unemployment to increase with their replacement for the furlough scheme, the SNP has claimed. Criticism With the job retention scheme due to end in October, chancellor Rishi Sunak announced on Thursday 24 September a new scheme to top up the wages of workers whose employers can only bring them back on reduced hours. The scheme has drawn criticism from opposition parties along with the Resolution Foundation and the Institute for Fiscal Studies. They say it will not help to slow the tide of unemployment expected as the UK enters a second wave of coronavirus. Ian Blackford, leader of…

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