Paul Krugman

@paulkrugman ↗

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Last Checked June 4, 2021

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Thu Apr 30 19:10:40 +0000 2020

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Paul Krugman @paulkrugman

But if you look at the historical record, initial claims seem to overstate, not understate, job loss in slumps — and that's even if you discount the normal churn that causes several hundred thousand a week even in good times 3/ — PolitiTweet.org

Posted April 30, 2020 Hibernated

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Paul Krugman @paulkrugman

So, we've had an amazing 30 million initial claims over a very short period. Plus, state offices that process these claims are both overwhelmed and in many cases designed to reject people. So it's natural to assume that true job loss >30M 2/ https://t.co/gnFfu9FRgP — PolitiTweet.org

Posted April 30, 2020 Hibernated

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Paul Krugman @paulkrugman

For example, here's annual sums of initial claims and measured unemployment over the course of the Great Recession. In 2008-2009 there were around 18 M "excess" claims, but "only" around 8 M rise in unemployment 4/ https://t.co/Guy7abEoqY — PolitiTweet.org

Posted April 30, 2020 Hibernated