Fed's Barkin: It seems employers paying $15/h have less trouble hiring

Author: Adam Button | Category: Central Banks

Comment from the Richmond Fed President

Fed's Barkin
  • Anecdotally it seems that employers paying more than $15/hour for entry level jobs have less trouble hiring
Theory:
  • Jobless claims still shockingly high
  • Government benefits generous
The talk is that people are staying on unemployment rather than going to work. I'm sure that's a big part of the problem. However, what's better than collecting unemployment and staying home? Collecting unemployment and getting a cash-paying job under the table. Workers make more and employers pay less. That would explain high jobless claims, low hiring and a booming economy.

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