Eric Morath

speaker
273 appearances 6 recordings 1 series first heard Sep 2017 last heard Sep 2020

Eric Morath’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Coronavirus Relief: Some Workers Make More Than on the Job · 29 Apr 2020 podcast
But the reality is business owners are telling us that it's...
little bit of a hard situation.
You know, workers are asking, hey, can you leave me on layoff?
Can you keep me on the furlough for a few more months?
And that way I can collect these additional benefits.
Congress, when they passed the relief bill, included a $600 essential bonus on top of usual state benefits.
So the average state benefit is around $300 a week.
Once you add in an additional $600, that brings you to over $900 a week for the typical recipient, which happens to be
about in line with the median pay for a full-time worker.
So that means essentially half of full-time workers earn less at their jobs than they would if they qualified for unemployment benefits.
So the benefit amount at the state level is based on a formula that sort of adjusts based on how much you make up to a maximum.
But typically a worker gets paid about 45% of their previous wage when they're receiving unemployment benefits.
But when you add the additional $600 on top of that, that means for many workers they're receiving 100% or even more than 100% of their previous wages.
By the letter of the law, if you have a job opportunity, you're required to take that and not to take the benefits.
But the reality is business owners are telling us that it's a little bit of a hard situation.
You know, workers are asking, hey, can you leave me on layoff?
Can you keep me on the furlough for a few more months?
And that way I can collect these additional benefits.
In some cases, it's not that they're lazy.
It's that they really do have either child care issues or sick folks in their family they're taking care of.
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