Personal finance

Kmatta

More than half of Americans support states’ move to end a $300 weekly supplement to unemployment benefits months before it officially expires, according to a Quinnipiac University poll issued Wednesday.

At least 23 states have announced an early end to federal unemployment programs in recent weeks. Self-employed workers and the long-term unemployed will lose benefits entirely in most states.

More from Personal Finance:
New round of $1,400 stimulus checks brings total sent to about $391 billion
Older Americans not delaying their retirement despite Covid-19
Monthly child tax credit may arrive as states end $300 unemployment boost

Fifty-four percent of Americans think the state governors are doing the right thing by ending the benefits ahead of schedule; 38% think they’re doing the wrong thing, according to the Quinnipiac poll.

The states, all led by Republican governors, cite labor shortages as the motivating factor for the cuts, which start as early as June 12. (The American Rescue Plan offers them until Sept. 6.) State officials argue enhanced benefits offer an incentive for people to stay out of work.

Many economists think they are not the primary contributor to hiring challenges; they believe health risks are the main reason for a smaller labor pool, in addition to other pandemic-era factors like child-care challenges and early retirements.

Approval for the benefit cuts breaks starkly along partisan lines — 89% of Republicans think the states are doing the right thing while that’s true for just 32% of Democrats, according to the Quinnipiac poll. (It’s true for 54% of independents.)

Results also differ by sex and income, with men and wealthier Americans are also more likely to agree with their decision. Further, just 36% of Blacks and 46% of Hispanics think it’s the right thing, compared to 62% of whites, according to the poll.

Minorities, low earners and women have been disproportionately impacted by job loss during the pandemic.

Articles You May Like

Here are some money moves to make before the Fed starts cutting interest rates
General Motors is set to report earnings before the bell
Paris Olympics is the latest test of whether sports can win subscribers for NBC’s Peacock
Real Estate Transaction Tax Rates in German States
Alphabet moves past early stumbles in AI to deliver positive story to investors