Unemployment scar: Research shows that those who have experienced unemployment are more pessimistic and consume less than average

A academic studies The recently published American Economic Journal published figures on the “scar” that unemployment leaves on workers. Researchers Ulrike Malmendieu and Leslie Sheng Shen concluded that people who have experienced difficult economic times are more pessimistic about job loss and future income, and therefore [una década después] “They spend less than other workers with the same wages and wealth.”

Specifically, the study calculates that “a one standard deviation increase in both the personal experience of unemployment and at the macroeconomic level is associated with a 0.92% to 1.85% decrease in total annual consumption expenditure. [dependiendo de distintas circunstancias sobre el tiempo en paro, el puesto de trabajo que se encuentra después o la edad]”. Its results are based on various statistical sources for the United States, but may be applicable to other developed economies such as Spain.

Source: El Diario

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