Decision to cut $300 federal unemployment benefits in GOP states is 'tied to politics, not economics

[Yo_Mama_Been_Loggin]

JPMorgan says

The move to cut federal unemployment benefits in red states is "tied to politics, not economics," according to a Tuesday note by the economic research team at JPMorgan.

The note refers to two dozen GOP-run states deciding to end their federal unemployment benefits early, leaving 4 million workers set to lose an extra $300 per week months before the law dictates.

The team said the programs are likely contributing to the limited amount of workers currently searching for new jobs. But it noted that neither unemployment rates, earnings growth, nor participation levels are driving states to halt jobless aid early. "It therefore looks like politics, rather than economics, is driving early decisions to end these programs," they wrote.

JPMorgan pointed out that many GOP states did not have more job openings than jobless people, which economists call a tight labor market.

https://www.msn.com/en-us/money/markets/the-decision-to-cut-dollar300-federal-unemployment-benefits-in-gop-states-is-tied-to-politics-not-economics-jpmorgan-says/ar-AAKpYya

[SoCalDavidS]

1. It's What The Majority In Those States Voted For

I'm sorry for the Democrats who will suffer, but that's the breaks.

[Mad_Machine76]

6. Uh what?

The majority of *eligible* voters. Not certain that these Republican autocracies accurately reflect the actual will of the people subjected to these awful policies.

[wackadoo wabbit]

10. Arizona went for Biden and also elected Mark Kelly to the U.S. Senate in 2020

Our governor is an asshole — he's one of the ones who's cutting off the additional $300 in federal funds — but he does not represent the populace of the state as it currently stands.

[Pantagruel]

2. A biased conclusion

from those commies at JP Morgan?

[KT2000]

3. Twenty-one states have $7.25 minimum wage

Most of them are on the list of those that want to get rid of the $300.

[Delmette2.0]

4. For the 2022 elections they will blame the Dems.

Bookmarking for future use.

[Mad_Machine76]

5. Yep

Clear as crystal. It's clearly very punitive to struggling people to force them to accept s**t jobs.

[ShazamIam]

7. It is Republican's hating on the working class.

ca

[monkeyman1]

8. new slogan VOTE REPUBLICAN & BECOME HOMELESS!!

[BobTheSubgenius]

9. As soon as you get to "red states" in the first sentence, you know what the motives are.

However wrong, they used to have an actual ideology. Now, what passes for ideology just demonstrating as little empathy as it's possible to have, and, above all, do everything possible to negate anything and everything Democrats do and say.