On Thursday, the Bureau of Labor and Statistics (BLS) announced changes in this week’s initial unemployment claims. Their report shows the 26 states that have announced their plan to end participation in the $300 weekly unemployment bonus have seen a 12.7 percent decline on average in initial claims over the past week. Meanwhile, states that have indicated they will continue participating in the unemployment bonus programs have seen an increase in initial claims by an average of 1.6 percent during this same period.
The 12 states that have officially opted out of the $300 weekly bonus thus far have seen consistent declines each week since ending participation in the bonus.
“State leaders are proving that ending enhanced unemployment bonuses can reignite the economic recovery for workers and businesses alike,” said Hayden Dublois, Senior Research Analyst at FGA. “This recent report highlights how ending the bonus will help get unemployed individuals back into the workforce quickly, help fill the record number of open jobs, and ensure small businesses can thrive.”
The Foundation for Government Accountability is a non-profit, multi-state think tank that specializes in health care, welfare, and work reform. To learn more, visit TheFGA.org