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Response to BumRushDaShow (Original post)

Sat Sep 5, 2020, 08:27 PM

34. The big discrepancy between jobs report 13.6 M unemployed, and 29.2 M collecting benefits

Last edited Thu Sep 10, 2020, 06:44 PM - Edit history (2)

The big discrepancy between jobs report 13.6 M unemployed, and 29.2 M collecting benefits
This article, dated 6/16/20, and covering the May unemployment report purports to explain the discrepancy that showed up in May:

There are more people getting unemployment benefits than there are unemployed workers, CNBC, 6/16/20


https://www.cnbc.com/2020/06/16/there-are-more-people-getting-unemployment-benefits-than-there-are-unemployed-workers.html

# the key point is that the requirement that people be looking for work in order to collect unemployment benefits has been suspended during the pandemic -- but was that still true in August, for example?

whereas to be counted as unemployed in the BLS's monthly job report (and to be included in the U-3 unemployment rate), the surveyed person must tell the surveyor that he/she looked for work sometime in the past 4 weeks (and it must be something more than looking at want ads - it must be activities like sending out resumes, filling out applications, and so on). (The unemployment numbers come from a monthly Household Survey of 60,000 households).

There's much more on this at https://www.democraticunderground.com/100214030232#post3

Anyway, that's a huge gap (13.6 M vs. 29.2 M) to try to explain.

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BumRushDaShow Sep 2020 OP
mahatmakanejeeves Sep 2020 #1
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