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  • j0k3r!

    senior tag

    válasz j0k3r! #11701 üzenetére

    Over the past five years, most of the $12.5 trillion in deficit spending went directly into the pockets of individuals and corporations.

    With regard to state and local governments, 11 million employees were laid off or furloughed.

    State and local governments received a total of $500 billion from Covid stimulus programs and the CARES Act to reimburse them.

    Even though these stimulus packages were appropriated in 2021, billions of dollars from these programs were pumped into state and local governments earlier this year—in 2024.

    This is why state and local government employment skyrocketed in the Jobs Reports this year, and especially in September, as governments rushed to hire people in temporary jobs before the September 30th fiscal year-end deadline. If they didn't spend the money by September 30th, they had to give the money back to the U.S. government.

    I know every Administration Republicans and Democrats—tries to boost the U.S. economy in election years, but this seemed excessive to hold back money appropriated in 2021, knowing that most of these jobs would be created right before the presidential election.

    Unfortunately, almost all of these jobs were listed as temporary jobs, and unless these governments are willing to use their own state and local taxes to keep them hired after September 30th, most of these jobs will be lost over the next few months.

    The good news for politicians is that increased unemployment figures will not show up in future Jobs Reports until after the election.

    If these stimulus-funded state and local jobs were eliminated from the September Jobs Report, the unemployment rate would have risen to 4.5%, rather than dropping from 4.2% to 4.1%

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    some men just wanna watch the world burn...

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