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It is very clear that people are collecting unemployment until it runs out. Sure, this implies an unstable situation and a job will eventually need to be found,
by julienb_sea 5y ago
It is very clear that people are collecting unemployment until it runs out. Sure, this implies an unstable situation and a job will eventually need to be found, but what could possibly be the rush? Summer is here, its beautiful out, if you're making full paycheck on unemployment then WHY would you possibly want to jump into a low end job?
Wages will temporarily increase, but once things return to normal and we no longer subsidize unemployment as we presently are, I would assume the glut of job supply will go down. This will likely spur further investment in automation or other ways to reduce business reliance on labor, especially at very large scale.