Is anyone surprised? When you hear about inflation and worker's raises causing inflation, keep this in mind.
Average stimulus amount per worker – $3,450
Average PPP Loan Amount – $59k
Major points:
- The PPP was not well targeted. Only about one-quarter of PPP funds supported jobs that otherwise would have disappeared.
- The study found that the PPP’s benefits flowed disproportionately to wealthier households rather than to the rank-and-file workers that its funds were intended to reach.