Quote of the Day – on Job Searches

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Most unemployed people quickly slack off on their job search. There is an initial outburst of activity right after they lose their job, and during that period many people find a new job. But when they exhaust their contacts and the companies they know well, they tend to hunker down and wait for something to happen… pay people not to work and that’s what they will do. It’s a phenomenon that economists call moral hazard, and it plagues all forms of insurance, including unemployment insurance. ~ Megan McArdle

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