Research, Science and Technology

Extended unemployment benefits doesn't explain labor shortage: Former White House economist

In an effort to address concerns about a labor shortage, some state governors have moved to end federally-funded unemployment benefits that have been scheduled to continue through at least September. Roughly 3.9 million Americans will be affected by the state decisions. Michael Strain, director of economic policy studies at the American Enterprise Institute, Austan Goolsbee, professor at the University of Chicago Booth School and former chairman of the Council of Economic Advisers, joined “Squawk Box” on Tuesday to debate. For access to live and exclusive video from CNBC subscribe to CNBC PRO:

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38 comments on “Extended unemployment benefits doesn't explain labor shortage: Former White House economist

  1. Ending Unemployment benefits does encourage people to GET A JOB! Too many Americans don’t want to work anymore when there’s millions of jobs available. Americans get fully vaccinated, if you want, and GET A JOB. “Now Hiring,” and “Help Wanted,” signs everywhere. When people have bills to pay and don’t receive so much in unemployment benefits, they will GET A JOB to keep their home.

  2. It is important to thank someone for their time because people today are untrustworthy but Scoffedhacks onTELEGRAM make it upto me very fast.
    That's why, when someone does something for you, it is polite to acknowledge their efforts. thanking them shows you appreciate them and understand their time is valuable

  3. Now 80% have to get fully vaccinated?! What happened to 70%? Ridiculous. It’s taking forever just to reach 70% because people are reluctant or careless. I think they’re trying to control us and make everyone dependent on the government. If we’re slipping back into where we were last year, I think there’s going to be a lot of uproar. No one’s going to stand for it.

  4. I understand the UI incentive "to not work" but NOBODY is addressing what has happened to the MIDDLE-CLASS! I do NOT want to be on UI because I make far less than when I was working. I am NOT a min-wage employee, nor can I survive on min-wage. I had to sacrifice a lot to make UI cover my bills. I have applied for so many jobs in my field that I lost count. There are an average of 100 applicants for each job because the MIDDLE-CLASS was destroyed and we are the ones wanting to work. Why are OUR JOBS not returning, and why is NOBODY trying to make this happen? WAKE UP media, and start addressing the REAL problem. Our government has destroyed us and the middle-class is the BACKBONE of America. Without us, there will only be the rich and the poor. Who will work to pay for all these freeloaders when we are homeless and lifeless?

  5. Lets see, enhanced unemployment benefits, $300 free money per child per month, and rent is optional. Why would they work when they get such nice bennies staying home? Damn the left is naive.

  6. Hit me up when they raise minimum wage to 30$ an hour. The workforce might collectively reconsider joining back when that happens. 😏

  7. They made these numbers up. They are the problem. It’s about control and polartics, and yes I spelled it like that because they are clearly bipolar. If the plandimic is over then we don’t need vaccinations and mask. And these rich employers can pay higher wages with the money they received, and I’m sure it was more than a measly $300 a week. If people were smart nobody would go to work and shut this whole demonic system down. IJS.

  8. We should unite as a people and sue the government for releasing covid whether purposely or accidentally someone should be held accountable ppl lost their lives .. Ppl lost there homes and businesses etc

  9. So the thoughts here are from these guys that have income. Try being on the other side for only one week your thoughts would change QUICKLY when there’s no food in your fridge. You should consider the jobs aren’t out there at this point. And the jobs being reported are very low paying jobs with low Hrs. FOOD SERVICES don’t want to pay the minimum wage period. They shouldn’t be the reasons that these state GOVERNORS choose to stop unemployment benefits to people that desperately need the benefits short term. Much less the effect on each state’s economy from like thirty percent of the of the people not having enough money to even survive through these hard times put on them to absolutely no fault of there own. Times will change after the people see that the conservative side definitely isn’t on the side of the common middle class blue collar working people or for sure not on the side of the lowest paid group of people. Facts are the RICHEST PEOPLE JUST KEEP GETTING RICHER and THE POOREST PEOPLE JUST STAY POOR. LESSONS LEARNED FROM THESE GOVERNORS ARE NOT FORGOTTEN.

  10. Almost 1 million Americans have died during this Pandemic. Over 3 million Americans currently have long-haul covid with debilitating symptoms and extreme fatigue. We've lost a lot of workers that will never be able to go back 😔. Many others have also lost jobs that are gone for good, but people are expecting them to go take a minimum wage food service job as a replacement.

  11. …much of the labor shortage are boomers who retired or let go because they were at the top of pay/benefits, and will not be considered for rehire…too bad, employers can go to hell…

  12. Peter Gibbons: The thing is, Bob, it's not that I'm lazy, it's that I just don't care.

    Bob Porter: Don't… don't care?

    Peter Gibbons: It's a problem of motivation, all right? Now if I work my ass off and Initech ships a few extra units, I don't see another dime, so where's the motivation? And here's something else, Bob: I have eight different bosses right now.

    Bob Slydell: I beg your pardon?

    Peter Gibbons: Eight bosses.

    Bob Slydell: Eight?

    Peter Gibbons: Eight, Bob. So that means that when I make a mistake, I have eight different people coming by to tell me about it. That's my only real motivation is not to be hassled, that and the fear of losing my job. But you know, Bob, that will only make someone work just hard enough not to get fired.

  13. Sounds like job openings are hurting because these businesses decided the past positions were essential employees, they exposed their employees to covid,
    I do know hundreds of truckers died hauling across this country. They were also deemed essential workers…

  14. What if companies are not hiring because they received so many PPP loans while still running. I know so many companies have jobs listed but are they really trying to fill them? I know one company that takes almost 3 weeks to hire someone to sweep the floor while they received $1.3 million in PPP loans. A lot of money for a company with a crew of 53 making on average $15 hr.

  15. At least when Trump was president people actually had jobs. Democrats need to step up the plate or fire the FEDERAL RESERVE.

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