Tag Archives: 300%

Unemployed Texas are wondering if extra $300 in benefits will end early

KATY, Texas (KTRK) — As pressure mounts for the Texas governor to end the extra $ 300 weekly unemployment benefit, those who receive the money are worried about losing a lifeline.Susan Winner lost her job during the pandemic. Winner said she only receives $ 81 from the state in unemployment benefits every two weeks which is why the extra $ 300 has been crucial for her.

“We still wait in food lines for that extra help,” Winner said. “Without that extra $ 300, I don’t know where we’d be.”Right now, officials said the program for unemployed Texans will end in September.

SEE ALSO: Are unemployed people avoiding jobs for extra $ 300 in federal aid? April jobs report, explained

But, there’s a growing call to end distribution of the additional money sooner than later.

This week, more than 40 organizations asked Gov. Greg Abbott to end it early.

ABC13 contacted the governor’s office but haven’t heard back.

University of Houston Professor Dietrich Vollrath said ending the benefit early would be a mistake.”It’s incredibly unsurprising a bunch of business owners would like there to not be competition for labor, and they would like to hire people back at relatively low wages,” Vollrath explained. “Their other option is to raise wages.”

SEE ALSO: Here’s how you can land a job in this growing Houston-area community

Some owners say that hasn’t helped. Landry’s Hospitality Company said its now offering a $ 250 signing bonus for new hires.

Tony’s Tex-Mex restaurant even increased starting pay, but said they can’t find workers.

“[We are] trying to match at least what some people are making in unemployment with the $ 300, but not even with that, we don’t get employees,” Tony’s Tex-Mex human resources generalist Cintya Alamis said.

The situation is so dire, Tony’s is hosting a job fair in its Katy location parking lot next Thursday from 11 a.m. until 2 p.m. with more than 20 other restaurant owners.
“You could even get hired on the spot,” Tony’s support coordinator Alejandra Vega said. “That’s what the goal is.”Economists aren’t sure boosted benefits are the issue. They said the pandemic and childcare are a bigger problem.

Vollrath doesn’t believe ending the boosted benefit early will fix the labor shortage.

“It’s not going to have this, ‘Woah, look at that. We’re back at four percent, and back at full employment,'” Vollrath explained. “That’s not going to happen on a large scale.”

Vollrath believes in a few months, the pandemic will improve, and people will return to work. He said if the situation improves rapidly by this summer, politicians could then reassess the boosted benefits. But for now, he suggests keeping them until September.

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Author: Nick Natario

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Ethereum Classic gains 300% in one week as traders rush to buy the 'wrong Ethereum'

The “original” yet ironically “wrong” Ethereum and Telcoin (TEL) are leading a fresh altcoin surge this week. Bitcoin (BTC) fans are already calling time on the fun.

Ethereum Classic (ETC), the pet favorite of Digital Currency Group founder Barry Silbert, is up 300% in a week.

ETC hits $ 180: Bull market or “casino market”?

In the latest incarnation of the 2021 “alt season,” altcoins are passing the torch between each other as investors chase optimal gains.

This year has also seen a curious shift in market focus from a token’s use case to the culture around it. This was epitomized with Dogecoin (DOGE), the high flyer of 2021, which has gained over 7,000% since January.

Memes and other social triggers likewise seem to be driving progress in this week’s round of breakouts, with ETC exploding in value without any noticeable changes. TEL has benefited from a successful layer-2 migration.

“Casino market hypothesis,” Blockstream CEO Adam Back responded during a Twitter debate about why the altcoin market was delivering such results.

As Cointelegraph reported, Back had also referred to luck of the draw as driving DOGE’s rise in fortunes.

Others noted that investment in ETC, in particular, may not only be short-sighted but dangerous: in its four-year existence, its blockchain has suffered multiple 51% attacks, pointing to a lack of security and resilience which is absent from Bitcoin and the “newer” Ethereum (ETH).

Price volatility was also recorded, with ETC trading at a giant 50% premium on Coinbase as prices took off on Wednesday.

ETC/USD 1-day candle chart (Binance). Source: Tradingview

Nonetheless, fans were unperturbed and appeared not to be in a hurry to exit their positions.

Silbert himself reminded Twitter followers of ETC’s price journey since inception in 2016 — from $ 0.50 to over $ 180, and a three-year high against Bitcoin.

Asked if he was “happy” with what had happened, Silbert said that Thursday had been a “good day.”

ETC is now the 13th largest cryptocurrency by market cap, having begun the year in 38th position. Spillover from increased interest in ETH is a constant topic when it comes to its legacy parent, with data from sentiment resource TheTIE showing that ETH tweet volumes surpassed those involving BTC for the first time.

Tweet volume chart for BTC (green), ETH (red), ETC (blue). Source: TheTIE

“Classic” altcoins emerge from hibernation

Meanwhile, Bitcoin is repeating moves of a different, less favorable kind as the week draws to a close. Having once again failed to tackle resistance at near $ 60,000, BTC/USD was back at $ 56,000 on Friday, having dropped to lows of $ 55,400.

Despite the relative lack of upside, however, longtime market participants remain wholly signed up to the bull market mentality.

“BTC, ETH and the whole market keep pumping and pumping, unreal,” Simon Dedic, managing partner at blockchain advisory and investment firm Moonrock Capital, summarized on Thursday.

“After 2 years of bear market, you learn to appreciate every single day of a bull market. Don’t take this market for granted. Stay humble, stay thankful, stay rational.”

As Cointelegraph reported, many altcoins on the market longest of all have seen a return to form in recent weeks.

BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview