About 9 million people are set to exhaust unemployment benefits at the end of this year. What happens to spending at exhaustion?
tldr:
1) people don’t prepare for exhaustion
2) cut spending a lot at exhaustion
3) including on groceries and medical— Peter Ganong (@p_ganong) December 14, 2020
And it is not over yet.. more shutdowns are coming t.co/KPZ8GEzpsi
— Alessio Urban (@AlessioUrban) December 15, 2020
This is just awful…
Average weekly jobless claims for all of 2009: 574k
Average weekly claims for 2020: on track for 1.5 million
— Eric Pomboy (@epomboy) December 14, 2020
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