One stunning statistic that hit this week regards California’s unemployment insurance claims being paid out. California is paying out some $100 million per day in unemployment benefits.
Even with 99 weeks of unemployment insurance between federal and state, extensions, and other emergency support programs we have a sizeable number of people reaching the end of their rope. This shows how pervasive and deep this economic crisis has hit average Americans. I tend to look at unemployment insurance payouts as a good measure to see how quickly the economy actually recovers.
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