- Apr 15, 2016
- 31,491
- 12,377
This is interesting.
A footnote on that report says that they made and error, that the unemployment rate really should be at least 3% higher than what reported. Which would be 16.3%.
The Bureau of Labor Statistics says they are working on fixing the problem.
The May jobs report had 'misclassification error' that made the unemployment rate look lower than it is. Here's what happened
When the U.S. government's official jobs report for May came out on Friday, it included a...www.stamfordadvocate.com
According to this copy and paste from the actual report, the same "error" occurred in March and April as well. Given that, what is the error?
"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."
Employment Situation Summary - 2024 M05 Results
www.bls.gov