68% make more on unemployment than in their (former) jobs?
(From Five Thirty Eight)
A new analysis by Peter Ganong, Pascal 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.
Reprinted from: https://www.ac2news.com/2020/05/68-make-more-on-unemployment-than-in-their-former-jobs/
