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The Miscount 0

The unemployment numbers that the BLS released last week were significantly lower than the actuality.

Again.

It does appear to have been an honest SNAFU, complicated by new unemployment situations resulting from layoffs and closures due to COVID-19 and stay-at-home orders. Nevertheless, the Trump administration’s (and Fox News’s) crowing about the figures released last week has been demonstrated to be wholly unwarranted.

A snippet (details of the SNAFU at the link):

The BLS admitted that some people who should have been classified as “temporarily unemployed” during the shutdown were instead misclassified as employed but “absent” from work for “other reasons.”

I find it quite credible that it was an error, rather than an intentional lie, especially as the BLS voluntarily–er–regretted the error.

We live in strange times and many persons are in unprecedented (un)employment situations.

June 9, 2020 | Posted by: Frank | Posted in: Personal Musings, Political Economy | Bookmark this post

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The Miscount 0