While last term a stimulus check was sent to the bank accounts of Americans, the labor market had still been struggling with the ongoing pandemic. The month was March 2021 and quite many people had still been in lockdown mode. Vaccines were still not available for all at that time and people could not go to their offices despite their desire to work.
Looking at the present point, after a couple of years since stimulus payments were allocated and people have now dropped the hope of acquiring another stimulus check. Now that the news is such that the labor market is strong enough for a stimulus check and that probably the people will not receive more stimulus checks but has the labor market been built strong enough as suggested by the data?
Stimulus Check Information Are Conflicting
The economy of the United States in February had added up jobs that were more than 300,000 which resulted in 3.6% of the national rate of unemployment. Contrastingly, looking at March in the year 2021, the rate of national jobless was 6% including the issue of stimulus check.
That month also witnessed jobs of more than 900,000 being summed up to the finance which results in thrice the totality of February. Hence it is important to note that our focus should be on the unemployment rate of 6% rather than the sum of added employment.
Putting our attention on the 3.6% rate of unemployment in February, it is clear that a rate of this kind would not lend to a stimulus check. However, it is difficult to digest the recorded numbers when each time you lift a newspaper to read, the only news you get is that of a huge number of staff that have been laid off by large companies.
