The Coming Tsunami of Unemployment Claims

Matthew Yglesias: “The United States is facing an imminent surge in unemployment insurance claims that threatens to completely swamp the system for claiming and paying benefits.”

“The surge is so unprecedented in historical terms that it essentially defies efforts to forecast where the economy may go in the future, and underscores the extent to which the looming coronavirus recession is completely different in its mechanics from the 2008 Great Recession but potentially even more severe in its impact.”