WASHINGTON- March’s unemployment report significantly exceeded expectations as 916,000 jobs were added, increasing hiring to the best pace since August. Rachel Greszler, a research fellow in Heritage’s Grover M. Hermann Center for the Federal Budget, released the following statement Friday on the way forward:
“Today’s employment report surpassed expectations. The 916,000 increase in employment shows the positive impact that vaccinations and re-openings are having on the economy. We should expect even larger monthly job gains over the coming months as vaccinations significantly reduce health risks and as politicians who have maintained excessive lockdowns hopefully let up and allow people to return to work and kids to return to school.
However, the March employment report shows that the $1.9 trillion stimulus package was not necessary and is unlikely to be helpful in getting Americans back to work. With only 9%, at most, of the $1.9 trillion directed toward actual public health measures, and super-sized unemployment benefits extended until September, the stimulus does more to reward and incentivize unemployment than it does to reduce it. It rewards states for imposing unnecessary restrictions that have caused high unemployment and its excessive unemployment benefits not only make it harder for employers to get the workers they need to recover, but they’re costing taxpayers dearly through massive fraud.”
While lawmakers remain divided how best to stimulate the economy and re-open, Greszler maintains that Congress needs to stop reducing Americans’ future incomes through massive expansions in government spending that will inevitably lead to excessive taxes and instead focus on policies that will expand employment opportunities and actual earned incomes today.