Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Latest Breaking News
In reply to the discussion: Nonfarm payroll employment rises by 4.8 million in June; unemployment rate falls to 11.1% [View all]progree
(13,077 posts)20. "Last month, it said the unemployment rate was 13.3 percent, but a major misclassification" ...
From the Washington Post -
BLS said the unemployment rate in June declined to 11.1 percent. Last month, it said the unemployment rate was 13.3 percent, but a major misclassification error clouded the reports accuracy.
The BLS report estimated the May unemployment rate was "about 3 percentage points" higher than the 13.3% reported, due to the misclassification error.
More on this from a month ago, and also the March and April errors
https://www.democraticunderground.com/?com=view_post&forum=1002&pid=13560715
Back to today's report - in the Covid-19 section of the OP, it says
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 June) had been classified as unemployed on temporary layoff, the overall unemployment rate would have been about 1 percentage point higher than reported (on a not seasonally adjusted basis). However, this represents the upper bound of our estimate of misclassification and probably overstates the size of the misclassification error.
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.
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.
So, from the above, the official 11.1% is low side, while 12.1% is high side.
Edit history
Please sign in to view edit histories.
Recommendations
0 members have recommended this reply (displayed in chronological order):
38 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
Nonfarm payroll employment rises by 4.8 million in June; unemployment rate falls to 11.1% [View all]
mahatmakanejeeves
Jul 2020
OP
Good morning. I didn't know if you would be around for a Thursday release.
mahatmakanejeeves
Jul 2020
#4
"Last month, it said the unemployment rate was 13.3 percent, but a major misclassification" ...
progree
Jul 2020
#20
Seasonally adjusted initial claims were 1,427,000, a decrease of 55,000 from the previous week
mahatmakanejeeves
Jul 2020
#10
PERSONS CLAIMING UI BENEFITS IN ALL PROGRAMS, W.E. June 13 (UNADJUSTED): 31,491,627
progree
Jul 2020
#16
This will give Yertle all he needs to justify not extending the Fed unemployment
stopbush
Jul 2020
#13
the real unemployment rate is closer to 20%, but the new math used these days leaves out a lot
yaesu
Jul 2020
#15
The unemployment numbers will shockingly start hitting 15%-18% a month after Biden is in office
Bengus81
Jul 2020
#23
The official unemployment rate is U-3. I've never seen anything else given in the media
progree
Jul 2020
#32
Per progree, "that was September 2019 released in early October 2019."
mahatmakanejeeves
Jul 2020
#35