There’s ‘little sign’ that ending unemployment benefits early pushed people back to work, JPMorgan says

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Over half of the states in the US have opted out of federal unemployment benefits early, citing the programs as potentially fueling the current labor shortage.

But that doesn’t seem to quite be the case. A Friday note from JPMorgan researchers Peter B McCrory and Jesse Edgerton looks at the impact on unemployment claims and spending following states officially opting out of their benefits.

They find that there’s “little sign of any differential improvement in unemployment claims or in several spending and activity measures in these states.” There’s perhaps a little jolt in spending on restaurants details ⇒

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