37MM newly unemployed, and 68% of them are making more now than while working

This should work out really well, doncha think?

A new analysis by Peter GanongPascal Noel and Joseph Vavra, economists at the University of Chicago,1 uses government data from 2019 to estimate that 68 percent of unemployed workers who can receive benefits are eligible for payments that are greater than their lost earnings. They also found that the estimated median replacement rate — the share of a worker’s original weekly salary that is being replaced by unemployment benefits — is 134 percent, or more than one-third above their original wage.”


You see, the $600 kicker from the stimu-lust means people are better off staying home until the juice runs out. I have a first hand account of this exact thing happening, where a laid-off worker was offered her job back, and she said No Thanks. So much more binging left on Netflix, you know.

4 thoughts on “37MM newly unemployed, and 68% of them are making more now than while working”

  1. Congratulations on being NUMERATE!! Nobody seems to know that “MM” means “million” any more–except you. Thanks!!

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