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Job Creation and Destruction

Job Creation and Destruction. Jesse Rothstein October 29, 2010 The Age of Obama and the Lessons of the 1930s UC Berkeley Institute for Research on Labor and Employment. Source: Bureau of Labor Statistics. Source: Bureau of Labor Statistics.

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Job Creation and Destruction

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  1. Job Creation and Destruction Jesse Rothstein October 29, 2010 The Age of Obama and the Lessons of the 1930s UC Berkeley Institute for Research on Labor and Employment

  2. Source: Bureau of Labor Statistics

  3. Source: Bureau of Labor Statistics

  4. Q1: Is long-term unemployment a symptom of advanced “Amerisclerosis?”Unemployed 27 weeks or more as a share of all unemployed Source: Bureau of Labor Statistics

  5. New Hires and Long-Term Unemployment

  6. Q2: How have the repeated extensions of unemployment insurance benefits affected the labor market? • Traditional program: 26 weeks. • Extended Benefits program: • Predates this recession • Up to 20 weeks in high-UE states • Emergency Unemployment Compensation (EUC08) • June 30, 2008: 13 extra weeks • November 21, 2008: Up to 20 weeks in high-UE states. • November 6, 2009: Up to 53 weeks – 99 weeks total. • Maximum possible weeks: 26  46  59  66  99

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