Are We Firing Too Many People?
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Over the last couple weeks, nearly ten million Americans have filed for unemployment. It's easily the worst two job weeks in U.S. history. And it might not be over. According to an estimate from economists at the Federal Reserve of St. Louis, 47 million Americans could be laid off during the pandemic.
Germany its number of unemployment claims recently enough for us to compare it, which translates to "short-time work." Under the program, when companies declare they're under financial distress, the government helps them pay their workers. The workers reduce their work week, and the government pays them typically about â of their lost wages. In this way, everyone shares the pain of the downturn and the system safeguards employment.
