$1200 Second Stimulus Check Update & Stimulus Package Update

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Let's discuss some interesting employment news and statistics and how that relates to the next stimulus check and package. This is your July 3rd stimulus check and stimulus package update.

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I wanted to take a minute to talk about some interesting employment news. Almost half of the adult U.S. population is currently without a job. The current employment to population ratio is at 52.7% meaning 47.2% of adults are jobless.

Compare this with pre-pandemic levels in January where we were at 61.2%. I remember back when the $2000 a month stimulus was proposed it had a stipulation attached to it that proposed $2000 a month until the employment to population ratio raised back above 60% and at that time it was at around 58%. Now it’s at 52.7%!

The best the employment to population ratio has ever been was back in the year 2000 when it hit a record high of 64.7%. In order to get it back to that level we would need to create 30 million jobs.

I personally think this is a better statistic to keep an eye on than the percentage of unemployment. This is because the unemployment percentage is not just the percentage of people who aren’t working. In the most simple terms it is the share of the labor force that is actively searching for jobs.

However it gets way more nuanced the more you look into it based on things like temporary layoffs, student status, or how do you define who is actually actively searching for work (does looking at an employment ad count as searching for work or do you need to go to an interview? Or is it some other measure? And how would that ever be tracked accurately?)

The employment to population ratio is simply calculated by the number of people who aren’t working divided by the U.S. adult population. This gives a much more broad picture of the economy.

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Disclaimer
This presentation does not constitute legal or tax advice. It is provided solely for informational and educational purposes and does not fully address the complexity of the issues or all the steps businesses must take under applicable laws. You should consult your professional advisers regarding your individual situation. Max Maher undertakes no obligation to update the information in this presentation, and no representations are made that the content is error-free.