Employment, Unemployment, and the Black Market

http://www.futureofcapitalism.com/2012/02/employment-unemployment-and-the-black-market

Congressional Effect Fund manager Eric Singer writes in Investors Business Daily:

I heard a story a while ago about a woman who had been making $50,000 per year who was laid off.

After some months of casually searching for a full time job, she was offered one paying $40,000, but she refused it.

Her logic was, I am getting $20,000 per year from unemployment benefits, and I am collecting $18,000 per year from baby-sitting off-the-books three days a week, which, after accounting for my lower taxes, works out to almost the same for less work.

Those interested in this topic may wish to see also the earlier post here, Who Are the Unemployed?

by Editor  |  Feb 22, 2012 at 10:24 am Related Topics:  Compensation, Unemployment receive the latest by email: subscribe to the free futureofcapitalism.com mailing list