4 Crucial Factors Influencing The Unemployment Rate In America
The pandemic caused many to lose their jobs. Thousands were left to tough it out for at least 9 months after the lockdown began in March 2020. This is still an ongoing issue today as the pandemic seems to have taken a comfortable seat in the world and decided to stay.
While some have been able to get their jobs back, many are still trying to find jobs that can help them provide for their families.
However, with the rollout of the vaccine, many employers are advertising job openings. But this hasn’t budged the unemployment rate in the least!
Why is this so? Why does it seem like people don’t want to work? The following 4 factors will give you an idea.
1.Unemployment benefits pay more than some jobs — This is a fact. With some jobs, folks are barely able to make ends meet and end up living “hand to mouth”. With the unemployment benefits, on the other hand, you can practically live in some semblance of comfort.
To boot, there’s the presence of extra benefits to help sustain those who are unemployed until the pandemic pans out. What a sweet deal! So, when you’re being well cared for through such benefits, would you want to return to work and live hand to mouth again?
2. There isn’t adequate health insurance on the job — That’s right, a lot of the jobs that are easy to get into now do not offer health insurance. This is a great downer in anyone’s book. Health insurance is very important, especially in these dire times when bodies seem to be dropping like flies! Unemployment benefits take care of that, so go figure.
3. Many people have school-aged children learning from home — It’s already hard enough finding adequate assistance for the kids when you’re at work. We all know what happens when parents are absent and kids are left at home to fend for themselves for most of the day: zero or little school work is done and they get into trouble.
I can imagine that some, especially those who aren’t eligible for CAPS, were somewhat relieved to be laid off because they won’t have to worry about daycare costs and can spend more quality time with their kids. With that, added to the unemployment benefits which outpay many jobs, who would be in a hurry to go out to work again?
4. Many people don’t want to expose their at-risk relatives to COVID-19 — Then there’s this to top it all off. The virus seems to be increasing in strength as the days go by, what with the new strains and all. It’s very difficult for people to decide to venture out and put themselves and their vulnerable relatives at risk of getting sick or dying from it.
With all this taking place, what’s to be done? I mean, everyone has a right to decide whether or not they want to work but the downside to it all is a continued unemployment rate could result in dire consequences… for everyone.