Health Insurance Keeping Many From Quitting Their Job, Poll Finds
According to a new West Health-Gallup survey, 16% of Americans are sticking with current employer out of fear of losing health benefits. That number is even greater for the two poorest-income tiers. In some economic good news, unemployment claims drop to a new pandemic low and hunger rates fall, too.
Axios:
1 In 6 Workers Say Health Benefits Are Stopping Them From Leaving Their Job
One in six U.S. workers with employer insurance are staying in a job they may otherwise leave because they're afraid of losing their health benefits, according to a new West Health-Gallup survey. Black and low-income workers are particularly likely to say they're staying at their job for the health benefits it provides. More than half of respondents said they were concerned that the costs of health care services and prescription drugs will continue to rise until they're unaffordable. (Owens, 5/6)
The Wall Street Journal:
U.S. Unemployment Claims Reach New Covid-19 Pandemic Low
Worker filings for unemployment benefits in the U.S. reached a new low since the Covid-19 pandemic began more than a year ago—the latest sign that the labor-market rebound is gathering force. Jobless claims, a proxy for layoffs, fell 92,000 last week to 498,000, the Labor Department said Thursday. That brings the four-week average of initial claims, which smooths out volatility in weekly data, to the lowest point since the pandemic took hold, though still well above pre-pandemic levels. (Guilford, 5/6)
Politico:
Hunger Rates Plummet After Two Rounds Of Stimulus
The percentage of Americans struggling with hunger is now at its lowest level since the pandemic began, suggesting the recent flood in aid from Washington is making a significant difference to families struggling economically. Data released by the U.S. Census Bureau this week shows the percentage of adults living in households that sometimes or often did not have enough to eat dipped to just over 8 percent late last month, down from nearly 11 percent in March. That is a substantial drop, and it came after hundreds of billions in stimulus checks went out. (Bottemiller Evich, 5/7)
In related news on covid's economic toll —
CNN:
South Carolina And Montana To End All Pandemic Unemployment Benefits For Jobless Residents
South Carolina is joining Montana in ending federal pandemic unemployment benefits for its residents next month. The Republican governors of both states say the enhanced jobless programs are dissuading people from returning to the workforce and are creating labor shortages. They are the first two states to halt participation in the historic federal expansion of jobless benefits, which Congress enacted last spring as the coronavirus pandemic began upending the national economy and costing millions of Americans their jobs. (Luhby, 5/6)
The Wall Street Journal:
Fed Says Covid Is Major Financial Risk, Asset Prices Vulnerable To ‘Significant Declines’
The Covid-19 pandemic remains one of the biggest near-term risks to the stability of the financial system, the Federal Reserve said, while noting that asset prices are vulnerable to significant declines if investor sentiment shifts. (Kiernan, 5/6)
Politico:
Millions Head Back To Work Amid Employer Confusion Over Masks, Vaccines
Millions of people are flooding back to work as the coronavirus ebbs, but businesses say the federal government's failure to answer pressing questions over masks and vaccinations are complicating their reopening efforts. Despite President Joe Biden’s new goal of getting 70 percent of Americans vaccinated by July 4, and his call for every employer to offer paid time off for workers to recover from the shot, the government has yet to answer whether it’s legal for businesses to offer vaccine incentives to their staff. (Rainey, 5/6)
