From the Federal Reserve Bank of Atlanta:
Over the last several weeks, mainly due to the COVID-19 pandemic and the resulting layoffs, there has been an extremely large increase in the number of people filing for unemployment insurance.
Firms have had to lay off workers due to limited demand for products and services driven by public policies mandating social distancing and quarantines. Reengaging these workers as soon as possible is critical on several fronts. Evaluations of programs that provide services to unemployment insurance claimants show that training and job search support help reattachment to work and are strong predictors of how quickly an individual returns to work and how quickly the person’s wages rebound. These types of services also lead to government savings, as claimants spend less time on unemployment insurance support.
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