Why are there so many unemployed in the U.S? What’s the difference with the other countries? How much billionaires won? COVID-19 winners.
THE FIGHT TO SAVE JOBS.
The U.S has experience a sharp increase in unemployment. At least 36.5 million people lost their job. Countries with the smallest increases in unemployment (like Norway, Germany or France) have one thing in common: their governments have put in place sweeping programs that directly pay companies to retain their workers.
The details differ. Australia, Denmark and New Zealand created new programs. France and Germany expanded existing programs. But all of them have tried to maintain the connection between employer and employee even as much of the economy is temporarily shut down. The U.S took a different approach. It gave $1,200 to all americans who earned less than $99,000 a year.
The evidence so far suggests that those checks haven’t been a very effective stimulus.
THE WINNERS: BILLIONAIRES.
14 new Americans have become billionaires and US billionaires saw their wealth increase. A 12.5% increase. g
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