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13% unemployment rate (Original Post)
Proud liberal 80
Jun 2020
OP
+1, even worse the continuing claims went up over half a million without the LFPR going down
uponit7771
Jun 2020
#7
unblock
(52,163 posts)1. the fine print even admits the real number is 3% higher:
https://www.bls.gov/news.release/pdf/empsit.pdf
However, there was also a large number of workers who were classified as employed but absent from
work. As was the case in March and April, household survey interviewers were instructed to classify
employed persons absent from work due to coronavirus-related business closures as unemployed on
temporary layoff. However, it is apparent that not all such workers were so classified. BLS and the
Census Bureau are investigating why this misclassification error continues to occur and are taking
additional steps to address the issue.
If the workers who were recorded as employed but absent from work due to other reasons (over and
above the number absent for other reasons in a typical May) had been classified as unemployed on
temporary layoff, the overall unemployment rate would have been about 3 percentage points higher than
reported (on a not seasonally adjusted basis). However, according to usual practice, the data from the
household survey are accepted as recorded. To maintain data integrity, no ad hoc actions are taken to
reclassify survey responses.
However, there was also a large number of workers who were classified as employed but absent from
work. As was the case in March and April, household survey interviewers were instructed to classify
employed persons absent from work due to coronavirus-related business closures as unemployed on
temporary layoff. However, it is apparent that not all such workers were so classified. BLS and the
Census Bureau are investigating why this misclassification error continues to occur and are taking
additional steps to address the issue.
If the workers who were recorded as employed but absent from work due to other reasons (over and
above the number absent for other reasons in a typical May) had been classified as unemployed on
temporary layoff, the overall unemployment rate would have been about 3 percentage points higher than
reported (on a not seasonally adjusted basis). However, according to usual practice, the data from the
household survey are accepted as recorded. To maintain data integrity, no ad hoc actions are taken to
reclassify survey responses.
uponit7771
(90,323 posts)7. +1, even worse the continuing claims went up over half a million without the LFPR going down
... so's there's no way the UE rate can go down too.
That's rare and hardly ever happens
The continuing claims is the gut check number like hospitalizations for CV19.
I'm just sick that BLS is fudging numbers like this by making the same "mistake" for 3 freakin months !!!
Dawson Leery
(19,348 posts)2. PPP loans are distorting the employment numbers - Per Dan Alpert
snowybirdie
(5,221 posts)3. Two of the
Three great lies......
ProfessorGAC
(64,951 posts)4. Even If Ignoring The Filings & Adjustments...
...13% UE is hardly a cause for a victory lap.
uponit7771
(90,323 posts)5. RIGHT !!! It took 2 yrs to get to 10% in 29 and 08 !!! It took Trump 6 weeks to get there this year!
zak247
(251 posts)6. Thank Obmama not Trump
ALL the economic progress can be solely attributed to Obama. Those are the objective facts. And in this case, people are merely rehiring those who were thrown out of work due to the COVID. The liar-in-chief will claim credit but we all know better.
Trump has done NOTHING for the economy but the tax cuts for the rich.