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[ny_quant]

We use micro data on earnings together with the details of each state’s UI [Unemployment Insurance] system under the CARES Act to compute the entire distribution of current UI benefits. The median replacement rate is 134%. Two-thirds of UI eligible workers can receive benefits which exceed lost earnings and one-fifth can receive benefits at least double lost earnings.

Comments

[ny-quant.livejournal.com]

Everyone with 401K account or even IRA is likely a shareholder in Chase or any other member of S&P500.

[misha-b.livejournal.com]

While this is true, most people in this country do not have large 401k accounts or stock holdings.

[ny-quant.livejournal.com]

Not according to people who study this.

"15% of Americans have no retirement savings at all"

https://www.cnbc.com/2019/06/27/how-many-americans-have-nothing-saved-for-retirement.html

[misha-b.livejournal.com]

I am confused, how does it contradict what I said?

[ny-quant.livejournal.com]

15% of Americans have no retirement savings at all means that 85% do.

[misha-b.livejournal.com]

I said "most people in this country do not have large 401k accounts or stock holdings." This is true I believe -- in fact your article supports it.

[ny-quant.livejournal.com]

OK, I missed the *large* part.