The San Fran Fed has a new research piece out debunking the notion that Americans choose to sit around collecting unemployment insurance rather than finding gainful employment (per Senator Jon Kyl and others). (See previous — heavily commented — BP post on this subject here.)
By Rob Valletta and Katherine Kuang
During the current labor market downturn, unemployment duration has reached levels well above its previous highs. Analysis of unemployment data suggests that extended unemployment insurance benefits have not been important factors in the increase in the duration of unemployment or in the elevated unemployment rate.
The Journal has a story posted on the paper here.
Of course, I don’t expect that actual facts (remember those?) will change many minds, but thought this study was post-worthy in light of the recent controversy.
As you were.