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In reply to the discussion: Unemployment rate drops to 13 percent, as the economy began to lose jobs at a slower pace [View all]
aggiesal
(8,907 posts)64. I'm calling BS. This was reported 5/28/2020 on CNBC ...
https://www.cnbc.com/2020/05/28/jobs-data-shows-millions-went-back-to-work-but-unemployment-rate-for-may-is-still-expected-at-20percent.html
This is data based on week ended May 16, so it doesn't include the last 2 weeks, which now put unemployed at 42+ Million
Some skyscrapers on the right side of the graph
Check out at the skyscraper on the right side of the graph (Looks like the Sears Tower)
This is data based on week ended May 16, so it doesn't include the last 2 weeks, which now put unemployed at 42+ Million
There have been 40 million claims filed over the past 10 weeks, and that does not include the nearly 8 million who claimed Pandemic Unemployment Assistance, under the CARES Act, as of May 9.
Some skyscrapers on the right side of the graph
Check out at the skyscraper on the right side of the graph (Looks like the Sears Tower)
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Unemployment rate drops to 13 percent, as the economy began to lose jobs at a slower pace [View all]
BumRushDaShow
Jun 2020
OP
Yes. Thank you. I actually called up the BLS CPS group this morning and asked
PatrickforO
Jun 2020
#51
Massive layoffs and business closed everywhere for months make for only 3.7% higher?
Bengus81
Jun 2020
#17
Hey, wait. The BLS says that employment rose by 2.5 M. They must mean unemployment.
mahatmakanejeeves
Jun 2020
#8
The BLS admitted last month the unemployment rate was close to 20% given the classification errors
progree
Jun 2020
#9
This would mean that it dropped from a high of around 14 to 13%................Bullshit
turbinetree
Jun 2020
#11
My guess is that it's a quirk with the standard survey vs. some VERY non-standard times.
FBaggins
Jun 2020
#29
How have payrolls increased that much. Mohamed El-Erian sure is skeptical of it
still_one
Jun 2020
#26
Hey, I'm just addressing your initial concern about the continuing claims, which DO match up
mathematic
Jun 2020
#32
I agree we have seen the worst in unemployment, but that the increase was this
still_one
Jun 2020
#33
I admit that I'm guessing... but I think it's the difference between a hard count
FBaggins
Jun 2020
#37
From the source. The BLS says that employment went up by 2.5 M. Not unemployment.
mahatmakanejeeves
Jun 2020
#15
I would think that in order to get that jobs "increase" (am guessing "net increase" for the month)
BumRushDaShow
Jun 2020
#28
The WaPo did some editing on their article. The edit changes things. NT
mahatmakanejeeves
Jun 2020
#38
Tell that to the closed restaurants, businesses, and those part of the continuing
still_one
Jun 2020
#19
Except that this situation is unique and nothing like any other catastrophic event in the past.
honest.abe
Jun 2020
#87
Household survey (that produces unemployment rate) is done over one week in this case May 10 - May
progree
Jun 2020
#53
Let's see...unemployment numbers the first week of Feb 2021---18%-20% BANK on it
Bengus81
Jun 2020
#48
bogus data if I ever saw with the number of people filing weekly claims near 40 million
beachbumbob
Jun 2020
#50
Well, that's about right. MarketWatch forecast 7.25 M LOST, Yahoo Finance: 8 M LOST
progree
Jun 2020
#60
Continuing claims is 21.49 million, not far from the Unemployed number: 20.98 million
progree
Jun 2020
#66
Also if you exhaust your unemployment benefits, you drop off the unemployment list ...
aggiesal
Jun 2020
#67
The BLS numbers in todays jobs reports counts everyone who says they are out of a job
progree
Jun 2020
#68
That's unemployed status too. Again, that Household Survey of 60,000 households is
progree
Jun 2020
#72
U-6 unemployment rate 21.2% (includes people who have looked for work sometime in past 12 months
progree
Jun 2020
#65
Trump says he hopes George Floyd 'looking down' and seeing today's jobs numbers as 'a great day for
progree
Jun 2020
#73
That showed up early this morning. I wish he had crossported it in this thread. NT
mahatmakanejeeves
Jun 2020
#76
March and April also had the same problem. March was "almost 1 percentage point",
progree
Jun 2020
#78
Thank you for writing. I posted the link because I thought that there should be a central place
mahatmakanejeeves
Jun 2020
#80
Oh, nothing wrong with posting it here. It is a fact that the BLS has admitted to the 3
progree
Jun 2020
#81
The LBN April jobs thread already has postings about the misclassification error
progree
Jun 2020
#83
Thanks. It's mostly just a bunch of cut and paste. There's not that much work involved. NT
mahatmakanejeeves
Jun 2020
#86
This one got removed as being a DUPE in LBN, but the comments are still there -
progree
Jun 2020
#91
Another one has been posted since then. I'm tired. I'm going to have some dinner. NT
mahatmakanejeeves
Jun 2020
#92
101 million jobless Americans (remember when Trump criticized Obama for "94 million jobless
progree
Jun 2020
#94
