Is the reason why unemployment is elevated that millions of Americans are choosing not to work because of cushy government welfare provisions?
After all, welfare payments as a percentage of GDP and unemployment have risen in tandem...
Well, if labour was truly slacking off then we would expect to see a shortage of labour. But instead we see an elevated level of applicants per job openings...
This means that there are not enough job openings in the economy even for the number of current jobseekers, let alone the discouraged workers and disabled individuals who are claiming welfare.azizonomics — Economics for the jilted generation…
The “Unemployment Is Voluntary” Myth
John Aziz
