The average total unemployment benefit has been $4k a month (because of the extra federal money in addition to the state money). Imagine getting four thousand dollars a month to not work. NorthStar confirmed that was roughly what he was getting. So there's your answer. 40 million Americans won't be clamoring to get into ESL overseas anytime soon. Especially because the layoffs are temporary and even more so because the big unemployment payouts disincentivize looking for work.
I don't see how that could possibly be true. It runs completely counter to common sense. (Like when the media told us George Floyd protests don't spread coronavirus.) This is not a consensus. Top economists from the very best schools have recently stated big unemployment benefits are in fact a disincentive to look for work. I'm reading that study trying to find out what could have gone wrong. (I see they used a private firm for data.)https://video.foxbusiness.com/v/1721413453001
But in 2020 with the $600 bonus benefits exceeded what they were previously making. How is that not a disincentive to work?OK, I'll go on google...Oh, here's a study that says the opposite of the studies you posted: "Reducing the duration of unemployment benefits increases the exit rate from unemployment."https://onlinelibrary.wiley.com/doi/full/10.4073/csr.2018.2
Ah, so you admit taking away the $600 reduced unemployment? That was my point- that big unemployment payouts disincentivize looking for work. (The media won't admit this.) I personally knew people who were in no hurry to find work because of the money they were getting from unemployment. What's human nature? To take a pay cut to work because it's the honorable thing to do? Or to enjoy the vacation at taxpayer expense? People are different. Some will choose the former, some the latter. But to say there is absolutely no incentive or disincentive at play for anyone is absurd.
In this specific example the extra $600 was always billed as temporary.
But Dems wanted to extend it into 2021. Thankfully they were stopped. Imagine getting $4,000 a month for not working- that's more than you make in Korea.
(I'm having a hard time understanding how you (D.L.) can think big unemployment benefits cannot disincentivize anyone from working. Clearly that's the case for some.)