The month of May’s US jobs numbers were the worst in more than five years : only 38,000 new jobs – when some 150,000 had been expected.
I see the Swiss referendum is coming up on Sunday June 5th : the one in which Swiss citizens will decide if their government should pay out a basic income to everyone. The Economist reports here that Finland and the Netherlands are planning limited experiments in which some citizens are paid a monthly income of roughly €1,000 ($1,100). But as the New York Times writes – while admitting that the American safety net needs fixing – an universal basic income is a poor tool to fight poverty. A basic income is a powerful disincentive to get a job – and jobs give people status, and for many is a way to structure and improve their lives.