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General Investing and Economics Discussion - No Politics
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<blockquote data-quote="Deleted member 2897" data-source="post: 800790"><p>South Carolina is one of the cheapest states there is in terms of what we pay unemployment. We just announced we're ending the federal part. If you added our state to the federal part, it equates to $17/hour. A lot of that type of work is hard work, so you can't really blame people for not wanting to work unless they could get several dollars an hour more than that. That's completely distorted and ruined the labor market and the supply chain. And we're one of the cheapest - imagine significantly higher effective free hourly wages than that in other states. For example, Oregon pays $650. So plus the federal, that's $24/hour. Massachusetts pays $850. So plus the federal, that's $29/hour. That's an incredible amount of money to not work when the economy is overheated and short of workers. I don't blame them a year ago because they forced companies to shut down and fire people. But once we started re-opening again several months ago and learned we could safely, it should have quickly ended.</p></blockquote><p></p>
[QUOTE="Deleted member 2897, post: 800790"] South Carolina is one of the cheapest states there is in terms of what we pay unemployment. We just announced we're ending the federal part. If you added our state to the federal part, it equates to $17/hour. A lot of that type of work is hard work, so you can't really blame people for not wanting to work unless they could get several dollars an hour more than that. That's completely distorted and ruined the labor market and the supply chain. And we're one of the cheapest - imagine significantly higher effective free hourly wages than that in other states. For example, Oregon pays $650. So plus the federal, that's $24/hour. Massachusetts pays $850. So plus the federal, that's $29/hour. That's an incredible amount of money to not work when the economy is overheated and short of workers. I don't blame them a year ago because they forced companies to shut down and fire people. But once we started re-opening again several months ago and learned we could safely, it should have quickly ended. [/QUOTE]
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