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Pandemic stimulus boosted spending, but didn't keep people from seeking jobs, new study says

1 month ago   |   By Business Insider

All that extra cash didn't keep Americans from pursuing work, NBER found. Narisara Nami/Getty Images
Americans' spending increased when they had stimulus cash, and slowed when they ran out, an NBER study found.
Having that extra cash didn't change American job-hunting, the researchers said.
Even as job creation returns to pre-pandemic levels, labor force participation remains low.
Americans got some relief from their pandemic stimulus funds, but not enough to stop hunting for jobs. Increased savings buoyed by unemployment benefits and stimulus checks during the pandemic kept many Americans...
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