Andy Puzder, former CEO of CKE Restaurants, discusses slow job growth due to unemployment benefits and says price increases at restaurants like Chipotle due to inflation are ‘here to stay.’ WATCH THE FULL INTERVIEW BELOW Source www.foxbusiness.com
GET FOX BUSINESS ON THE GO BY CLICKING HERE ANDY PUZDER: The biggest impact is from paying people not to work. In case there are progressive economists listening, I want to say if you pay people not to work, they’re probably not going to work. So we end up with 7.6 million fewer people employed than we had before the pandemic. But we’ve got 9.3 million job openings, which is a record high. March was a record high with 8.3 million, which I thought was a huge number.
And then it goes to 9.3 million in April, the month after this $300 don’t-go-to-work bonus takes effect. The next month, not only do you see 9.3 million job openings, but the economy creates 700,000 fewer jobs than the economists were projecting. So, this isn’t rocket science. If you pay people not to work, they’re not going to work. JOB OPENINGS SPIKE TO RECORD 9.3M, QUITTING PACE NEVER HIGHER AS BUSINESSES SCRAMBLE TO HIRE
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