We are currently experiencing an interesting phenomenon in the United States regarding the economy and it’s current state of affairs. Although the unemployment rate is currently on the high side, there is also a labor shortage that is negatively affecting multiple industries across the country. This fact is putting things out of balance. Typically speaking, when the unemployment rate is high workers scramble to find employment. Most out of work employees will take whatever job they can in order to make ends meet. On the other hand, when there is a typical labor shortage the vast majority of workers in the United States are working full time jobs.
That means the unemployment rate is incredibly low. However, this is not happening in the current economy. In fact, a great deal of workers are happy to be sitting at home collecting unemployment checks. Some employees who were laid off due to the Covid pandemic are getting called back to work, but refuse to go back to their old jobs because they’re making more money by remaining unemployed. The reason that many people are making more money by remaining unemployed is due to the vast increase in unemployment benefits based on the recent stimulus packages.
While it’s completely understandable that most workers would rather make more money to stay home as opposed to going back to work, it’s also a dangerous prospect on both a personal level and an economic level. This is due to the fact that the stimulus money will eventually stop coming. That could very easily happen sooner rather than later. In addition, unemployment benefits will go back to normal and that may very well happen sooner rather that later. That means workers can only be unemployed for a certain amount of time before the unemployment benefits run out.
The bottom line is that if you refuse to go back to your old job or go back to work in general now, you may be forced to in the near future. You may also find that your old job is no longer available when you’re forced back to work. That means you’re taking the chance that your next job may pay significantly less than your old job. There are other negative ramifications for remaining unemployed when you’re called back to work or there are plenty of other jobs available. The federal government may not look so kindly on consumer rights as it usually does.
In essence, they may not provide you with as much protection against certain industries and particular businesses as they currently do and have in the past. For example, there are consumer laws in place that currently protect consumers against debt collection agencies and debt collectors. There are many rules that debt collectors are required to follow when attempting to collect from people who are past due on their debt such as credit card bills. As of now, the federal government understands that a great deal of consumers are currently in a difficult financial situation.
Although the federal government certainly does not condone it when consumers fail to pay their current and past due debt, they have put many laws in place to protect people from underhanded debt collection tactics. The question that we need to ask out loud is will the federal government continue to favor the consumers or the businesses if a significant amount of people refuse to go back to work even though there are plenty of jobs to be had. It’s an interesting conundrum to say the least. At this time over four (4) million unemployed workers claim that they’re not currently looking for work out of fear of the Covid virus.
While that may be true for some people, it won’t fly for much longer for the unemployed workers who are only using that as an excuse. Thankfully, a significant portion of the population has already been immunized against the Corona Virus. The number of overall cases and deaths from Covid continue to fall. Many states across the country are back to normal, meaning they no longer have Covid related protocols in place. That includes mandates to wear masks, and stay six (6) feet apart from each other. The bottom line is that the Covid pandemic is starting to appear in the rear view mirror.
At some point in the very near future the state of affairs regarding the economy will start to balance out. That means the unemployment rate will go down by a significant amount. It also means that there will no longer be a labor shortage because workers will start going back to work and will fill those jobs.
If you need help with debt harassment, please contact your Legal Rights Advocates today. We are a legal rights based law firm that fights for the rights of our clients. We feel your pain and sympathize with your situation. Allow us to give you the helping hand that you need.
(855) 254-7841
