A new policy idea called the ‘job losers’ stimulus program’ appears to blend Democratic and Republican ideals, offering a view at what a potential compromise could look like. It could be the solution we need to fix the unemployment benefits system nationwide.
In this video, we explore:
1. White House Concerns about the $600/week Booster
2. My Personal Position – Human Lives are at Stake
3. A Promising New Alternative – The job losers’ stimulus program
There are a lot of emotions surrounding this topic and so I’m going to be objective here. I am a concerned citizen with a youtube channel. My personal position is that those who need help the most should get it.
We analyze an article from the The Washington Center for Equitable Growth – a non-profit research and grantmaking organization dedicated to advancing evidence-backed ideas and policies that promote strong, stable, and broad-based economic growth.
The title of the article is – Moving from Federal Pandemic Unemployment Compensation to a job losers’ stimulus program amid the coronavirus recession
The author of this article is Ioana Marinescu, Assistant Professor of Economics, University of Pennsylvania.
She is an economist who studies the labor market to craft policies that can enhance employment, productivity, and economic security. Dr. Marinescu’s research expertise includes online job search, workforce development, unemployment insurance, the universal basic income, and employment contracts.
THE PROPOSED IDEA
The proposal would pay $600 a week to workers who have lost their jobs for about four months, regardless of whether they remain unemployed or find new employment.
This “job losers’ stimulus program” would keep unemployment benefits intact during a time of fragile economic recovery and also remove any perceived disincentive to work caused by enhanced unemployment benefits, according to the proposal.
The job losers’ stimulus program is a cash stimulus for workers who have lost their jobs regardless of whether they remain unemployed or find new employment.
MORE PEOPLE WOULD RETURN TO WORK FASTER
According to the article, the job losers’ stimulus program would also have positive effects on the U.S. labor market, allowing workers to return to work when the economy can safely reopen without losing precious income.
The job losers’ stimulus program would help newly employed workers while allowing those still unemployed to search for the right job
Overall, then, moving from the Federal Pandemic Unemployment Compensation to the job losers’ stimulus program would provide more income to workers who lost their jobs during the coronavirus recession. It would strengthen the much-needed stimulus to the economy while also allowing more unemployed workers to return to work when it is safe to do so.