Re: [Pen-l] two questions

[Doug Henwood <dhenwood@xxxxxxxxx>]

On Jun 19, 2009, at 10:56 AM, Shane Mage wrote:

> Since no recession since 1929 has been comparable to this  
> (worldwide, 19 months so far and still headed downward), and there  
> was no unemployment insurance then, it seems less than sensible to  
> see current second-derivative fluctuations as "normal end-of- 
> recession labor market patterns."  What Jim's question is asking for  
> is the number of out-of-work people *who have exhausted their  
> unemployment benefits."

As I said in my response to Jim, the number of *initial* claims, about  
which there is no issue of exhaustion, peaked in March and is trending  
down. Continuing claims now look to be following suit. Yes, some of  
that is the result of people running out their benefits, but the rate  
of job loss looks to be slowing.
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