Unemployment Insurance Hasn’t Disincentivized Workers From Re-entering the Job Market

dhita yudha

August 5, 2020 at 5:00 am ET

  • The supplemental benefits from the CARES Act expired July 31, 2020, and many of the protections for renters and borrowers have expired or are set to do so shortly.

  • Monthly Morning Consult survey results from May, June and July show that roughly 5.4 million unemployed Americans are unable to cover basic expenses for a full month without financial support from unemployment insurance. These financially vulnerable unemployed Americans weaken U.S. households’ balance sheets, drag down spending and increase the risk of consumer delinquencies and defaults.

  • Unemployed workers who received more in unemployment insurance benefits than they did from their previous job did not return to work at a slower rate than those who received less in UI, casting further doubt on the distortionary effects of expanded UI benefits on workers’ incentives.

This analysis was authored by Morning Consult Economist John Leer.

Five days after

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Capital One ordered to pay $80 million penalty for its role in a 2019 data breach

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Capital One will pay an $80 million civil penalty for its role in a 2019 security breach that exposed the personal data of more than 100 million customers, The Wall Street Journal reported. In a scathing report on its investigation into the breach, the Office of the Comptroller of Currency, part of the US Treasury. said Capital One was aware its security practices were woefully insufficient, and that the company’s board of directors “failed to take effective actions to hold management accountable.”

The breach happened in March and April of 2019, but Capital One was apparently not aware of the problem until mid-July. That’s when someone tipped the company to a public GitHub page where private Capital One data was available. That led investigators to former Amazon cloud employee Paige Thompson, who was charged with wire fraud and computer fraud. Authorities say Thompson was able to exploit a “configuration vulnerability”

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