There's maybe one small thing that's important. The decline in the unemployment insurance coverage rate is one of the factors that explains the growth in consumer credit. People aren't getting the unemployment cheques so they're using a credit card as their unemployment insurance. This is one of the big stories in this recession compared to other recessions. It's one of the big drivers in consumer debt. That's the social protection these people have now. They don't have access to what was traditionally social protection, so they use their credit cards
On November 21st, 2013. See this statement in context.