The Cost of Unemployment
With so many out of work, would it cost less to provide more jobs?
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Show Notes
In the past six months, tens of millions of Americans have lost their jobs and the federal government has provided more than $400 billion in unemployment benefits. With states pressed to pay for the epic costs of coronavirus, what if there was a more efficient way to get support to those out of work? What if we could save money while guaranteeing jobs?
According to Pavlina Tcherneva, associate professor of economics at Bard College and author of “The Case for a Job Guarantee,” there’s a way to do exactly that. It would be cheaper — and better all-around for job seekers — to ensure across-the-board access to employment rather than unemployment checks, she says. But does the math really add up?