My liberal coworker says the reason claims are down is because people have been unemployed for so long that they have used up their unemployment compensation entitlement. Is there any truth to that?
None, whatsoever.
No, ask him to prove that. See what kind of response you get.
No. The unemployment rate isn't based on the number of claims (either new or continuing) for unemployment benefits. It is based on a survey of businesses and households to see who is not working but actively looking for a job. If you've been without a job for five years but are still looking for a job you still count as unemployed (and also lazy, but the Department of Labor doesn't track that).
If that was the case then those people would show up as part of the unemployed and the unemployment rate would go up and not be at a low 4.4% as it today.
“My liberal coworker says the reason claims are down is because people have been unemployed for so long that they have used up their unemployment compensation entitlement. Is there any truth to that?”
NO! It came from a liberal and you still think it has a possibility to hold even the smallest micron of truth???
LLS