The Homa Files

Answer: Not much … but, I bet you suspected as much.

According to Freakonomics and The Atlantic:

A new study by economists from Princeton and the University of Chicago breaks it down. The bulk of foregone market work time during the recent recession, they say, is spent on leisure. Only 1% is spent searching for a job.

Hmmm

* * * * *

Time distribution of unemployed Americans:

• 20% to sleeping.
• 15% to “other leisure,” including listening to music and being on the computer, exercising and recreation, and hobbies such as arts, collecting, writing.
• 13% to core home production activities (cooking, cleaning, laundry, etc.)
• 12% to watching TV.
• 12% to time investments in own health care, own education, and civic activities.
• 8% to increased shopping.
• 7% to home maintenance and repair.
• 6% to child care.
• 4% to the care of other older adults.
• 1% of the foregone market work hours are allocated to job search.

Ken’s Take: 99 weeks of unemployment benefits sure can shift a person’s priorities …

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This entry was posted on August 24, 2011 at 6:19 am and is filed under Employment - Jobs, Unemployment. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.