News

Finland paid unemployed people a basic income of $685 every month. It didn’t work out

April 25, 2018 /

MATR Sponsor (view all)

PFL Tech Inc. is a marketing technology company that provides sales enablement and marketing automation solutions, as well asprinting, mailing, and fulfillment services. They also provide some great Montana Jobs.

Finland’s basic income program that drew international attention was a bust, the Finnish government announced Tuesday.

The pilot program that paid about 2,000 randomly-chosen unemployed Finnish people a monthly check of €560 ($685) will stop by the end of the year, the BBC reports.

The program, which started January 2017, was the first of it’s kind in Europe. The government hoped the extra money would fuel the economy and innovation. The unemployment rate in Finland exceeds 8% and was 9.2% when the program launched. By comparison, the U.S. has an unemployment rate of 4.1%, according to the most recent data from the Bureau of Labor Statistics.

USA Today NetworkAshley May, USA TODAY

https://www.usatoday.com/story/news/nation-now/2018/04/25/finland-basic-income-685-fails/549087002/