By Kenneth Schrupp Something is rotten in America’s labor market. A whopping 6.9 million jobs remained vacant as of January 31. Meanwhile, 40% of small businesses are struggling to find employees and 18.2 million Americans are receiving unemployment benefits, which suggests that millions of unemployed Americans are deciding to stay home. The reason is simple: … [Read more...] about How One Federal “Stimulus” Program is Crippling Small Businesses and Boosting Monopolies
Employment
Local Kroger Stores Close as California “Hero Pay” Ordinance Backfires
By Brad Polumbo A new “Hero Pay” mandate in Long Beach, California has inadvertently cost some frontline grocery workers their jobs. “Ralphs and Food 4 Less, both owned by the parent company Kroger, announced Monday that they will be closing 25% of their stores in Long Beach after the city council passed an ordinance requiring companies with over 300 employees nationwide … [Read more...] about Local Kroger Stores Close as California “Hero Pay” Ordinance Backfires
CARES Act Stimulus Did Not “Replace Lost Wages”
By Alan Reynolds To explain why the economy collapsed in March and April before recovering vigorously, demand-side economic theorists emphasize excess savings as the cause of the downturn with federal stimulus spending as the driving engine of the subsequent recovery. An alternative supply-side explanation instead emphasizes the contractionary impact of state lockdowns … [Read more...] about CARES Act Stimulus Did Not “Replace Lost Wages”
Minimum Wage Hikes Kick in Across the Country—at the Worst Possible Time for Small Businesses
By Brad Polumbo 2020 was one of the worst years in modern American history for small businesses. And now, thanks to a wave of minimum wage legislation that kicked in on January 1, things are about to get even worse. Make no mistake: small business owners are already seriously hurting. When state and local governments responded to the outbreak of COVID-19 in the spring … [Read more...] about Minimum Wage Hikes Kick in Across the Country—at the Worst Possible Time for Small Businesses
Taxing Workers for Staying Home: A Policy Rooted in Envy
By Chloe Anagnos Ever since the beginning of the pandemic, working from home is the new normal. In 2018, just 5.4% of the US's working population worked remotely. By mid-2020, it had turned into reality for 56 percent of the workforce. While not all workers forced to stay home were quick to welcome the change, many learned to enjoy it over time. With state governments … [Read more...] about Taxing Workers for Staying Home: A Policy Rooted in Envy