Maria Bartiromo: ‘Free money’ from the government may be culprit for rising unemployment
The Fox Business anchor discusses rising unemployment, despite new jobs being added.
Fox Business anchor Maria Bartiromo reacted Friday to the newly released April jobs report and said that despite numbers coming in "wildly below" expectations, the U.S. economy is doing well right now.
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MARIA BARTIROMO: I think it’s a fair question to ask whether or not this was self-inflicted given the massive amount of money that we are expecting to hit the economy and how much money has already hit the economy. Look at the front page of the Wall Street Journal. Businesses are having a hard time getting people back to work and we are throwing unemployment benefits -- $300 checks, and the like -- to people at home, they don’t really feel the urgency to get back to the office.
But, I don’t think there’s any question that this economy is doing well right now. You’ve got the Atlanta Federal Reserve expecting growth of 13% in the second quarter, you’ve got an economy broadly speaking for the year of 2021 with expectations of GDP all the way up to 9%. So yes, this was wildly below broad expectations from economists. I think it has to do with businesses unable to get workers because they don’t need the money because they’re getting free money from all of this spending right now.
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