The UBI experiment in July had some surprising and potentially troubling results. The findings suggest that while participants received a financial boost, it didn’t translate into improved economic outcomes.
Here are some key takeaways:
Income Dynamics: Participants ended up earning less overall, despite receiving an additional $12,000 annually through UBI. For every dollar of UBI received, household income decreased by 21 cents.
Employment Impact: There was a noticeable increase in unemployment duration among UBI recipients, and they worked less compared to those in the control group.
Education and Training: The program didn’t lead to significant improvements in education or job training, and participants did not use the extra funds to better their employment prospects.
Self-Reported Health Issues: There was an increase in self-reported disability among participants, potentially indicating a decline in their willingness or ability to work.
This data will likely spark debate on the effectiveness of UBI and its potential role in alleviating poverty.
