A Chicago Fed study found people search less for jobs after they exhaust their unemployment benefits. People on unemployment benefits on average spend more than 14 hours a week job searching and send more than 12 applications a month, the study found.
Once individuals exhaust their unemployment benefits, they’re more likely to accept lower paying jobs that they otherwise would have if they were still on unemployment benefits, the Chicago Fed found. AFP via Getty Images Unemployment benefits have been a touchy subject for lawmakers lately, as the supplemental $600 a week that unemployed Americans have been receiving as part of the $2.2 trillion CARES Act expires next month.
“Those currently collecting benefits search more than twice as intensely as those who have exhausted their benefits,” states a recent study conducted by the Chicago Fed. Don’t miss: White House ‘very seriously considering’ another stimulus bill — here’s how the CARES Act has impacted poverty rates
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