US companies are still hiring workers as Americans are "flashing for now" due to astimulus check received from the federal government.According to the country's most powerful Republicans, help them overcome the coronavirus pandemic.
Senate minority leader Mitch McConnell (Republican) says the labor shortage that is currently hampering the US economy will be resolved when Americans run out ofmoney saved from stimulus checks. Stated.
At an event in Paducah, Kentucky on Tuesday, McConnell said, "Frankly, I'm blushing so far, so many are on the sidelines." rice field.
"We want to start concluding that when we run out of money, it's better to work than not."
McConnell said , Reported by Business Insider.
In March 2021, the Biden administration signed a rescue package to send a $ 1,400 check to Americans. No Republican supported the bill, which was strictly passed by Democrats.
Republicans cite stimulus checks and increased unemployment benefits as reasons why Americans do not have sufficient incentives to return to the employment market following the heyday of the pandemic.
Federal pandemic aid to Americans also surgedThe level of inflation being blamed.
The Ministry of Labor reported on Wednesday that there were approximately 11.3 million jobs on the last business day of May.
April jobs were 11.7 million, down from a record high of 11.9 million in March.
Millions of Americans continue to quit their jobs during the same period I did.
In May, 4.3 million people submitted their resignations. That's just below the March record of 4.4 million on, according to CNBC.
Workers are quitting in favor of jobs that offer higher wages. According to the Federal Reserve Bank of Atlanta, wages in May rose 6.1% year-on-year, the largest annual increase in more than 25 years.
A strong job market is one of the bright spots for an economy that has been plagued by record levels of inflation.
