Some unemployed making more than usual wage
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We're finding out./// corona stinger the numbers are unbelievable.
26 million americans are now unemployed in the united states... that means one in every six americans is without a job.
A record number of people are getting unemployment benefits in certain cases surpassing the wages earned by workers when employed.
Kimt news 3's nick kruszalnicki is live in mason city to explain.
Nick?
George and katie?
This glass represents your wages.
It's half full to show what unemployment benefits were like before coronavirus hit.
Most states paying 50 percent of your wage.
Add in the extra 600 dollars per week from the feds, plus extra the states are paying out and you can see some people are making more money unemployed than they were when they had a job.
Xxx "on average when you add six hundred to that little over 300 you would get the 100 percent to the average person on unemployment."
Rayce hardy, economics instructor at riverland community college explains why the federal government is adding six hundred dollars to state unemployment checks.
In normal times, unemployment was meant to be supplemental, but with so many out of work, the feds are trying to replace a person's missing income.
Hardy says the 600 dollar figure was designed to keep the math simple for state unemployment agencies.
"by having one amount across the board, it's going to allow states to administer the program more efficiently."
Gfx: iowa is one of the top four states for workers receiving more than their usual pay?
As much as 120 percent.
Minnesota was further down the list at around 105 percent.
The federal government has already spent nearly two trillion dollars to save the economy?
With another 484 billion coming shortly.
Some folks are starting to get concerned about the number of big checks being written in washington.
Allan asche (ashy) of clear lake?
Is one of them.
"the government seems to be printing a lot of money right now and i know that our federal deficit is pretty high."
According to hardy?
The federal government is literally swimming in cash right now and can easily afford these bailouts.
"the federal reserve can pump four trillion in its self.
One institution can pump four trillion into the economy.
They've got their 12 banks.
Hardy also said the government's balance sheets show they have enough money to theoretically send out several thousand dollars to each american.
Still he is concerned about the money the country has already borrowed and the impact it will have on future generations.
Live in mason city?
Nick kruszalnicki kimt news 3./// thanks nick.
President trump says he will sign the nearly 500 billion