well-temperedforum.groupee.net    The Well-Tempered Forum  Hop To Forum Categories  Off Key    Always read the fine print

Moderators: QuirtEvans, pianojuggler, wtg
Go
New
Find
Notify
Tools
Reply
  
Always read the fine print
 Login/Join
 
Has Achieved Nirvana
Picture of wtg
posted
quote:
When the U.S. government's official jobs report for May came out on Friday, it included a note at the bottom saying there had been a major "error" and the unemployment rate likely should be higher than the widely report 13.3 percent rate.

The special note said that if this misclassification error had not occurred, the "overall unemployment rate would have been about 3 percentage points higher than reported," meaning the unemployment rate would be about 16.3 percent for May.

The Bureau of Labor Statistics, the agency that puts out the monthly jobs reports, said it was working to fix the problem.

BLS and the Census Bureau are investigating why this misclassification error continues to occur and are taking additional steps to address the issue," said a note at the bottom of the Bureau of Labor Statistics report.



https://www.stamfordadvocate.c...n-error-15320999.php


--------------------------------
When the world wearies and society ceases to satisfy, there is always the garden - Minnie Aumônier

 
Posts: 38217 | Location: Somewhere in the middle | Registered: 19 January 2010Reply With QuoteReport This Post
Serial origamist
Has Achieved Nirvana
Picture of pianojuggler
posted Hide Post
Ever since I-1 started spouting off that the "Black unemployment rate" was the lowest ever in history, I wondered if they hadn't changed the rubric. "Lies, damn lies, and statistics" and all that. Stop counting people in various categories, and viola! the number of unemployed magically goes way down.

Not my area of expertise, but I hear on the market report on the radio* that they stop counting people who stop looking for work.

Of course the BLS under I-1 would never admit to such a thing.

_____________
*It just occurred to me that I don't get my hour of npr every morning since I pretty much roll out of bed, walk downstairs and get to work. I don't listen to the radio in the shower or on my commute as I used to. So I don't hear the morning market report every day.


--------------------------------
pj, citizen-poster, unless specifically noted otherwise.

mod-in-training.

pj@ermosworld∙com

All types of erorrs fixed while you wait.

 
Posts: 30040 | Registered: 27 April 2005Reply With QuoteReport This Post
Has Achieved Nirvana
Picture of Daniel
posted Hide Post
Well, I didn't believe it when I heard it.
 
Posts: 25309 | Registered: 31 March 2007Reply With QuoteReport This Post
Pinta & the Santa Maria
Has Achieved Nirvana
Picture of Nina
posted Hide Post
I would be shocked to find that the BLS report is being manipulated by Trump's minions. First, they were able to "get away with" reporting the error. Second, calculating unemployment rates is a gigantic pain in the butt and always an estimate that's only as good as the classification the BLS data collectors put onto it. There are four different methods for calculating unemployment (that I know of), and the field research method that was used here is the best one. So go figure.

The explanation for the error in the article doesn't seem outlandish to me. There was a massive increase in UI claims due to COVID-19, and it's also not surprising that the information from BLS was impacted. If I'm an employee on temporary furlough due to COVID, and I'm getting "special" COVID unemployment, and I'm not actively looking for another job, how do I answer the BLS questions?

To be honest, I'm not sure as I've never seen the full gauntlet of questions. But the complete freakout disaster regarding state unemployment that I've seen here leads me to believe that national numbers may have been incorrect without attributing nefarious reasons.
 
Posts: 35428 | Location: West: North and South! | Registered: 20 April 2005Reply With QuoteReport This Post
Has Achieved Nirvana
Picture of wtg
posted Hide Post
More on the report.

https://www.axios.com/may-jobs...97-bf761c6c5680.html


--------------------------------
When the world wearies and society ceases to satisfy, there is always the garden - Minnie Aumônier

 
Posts: 38217 | Location: Somewhere in the middle | Registered: 19 January 2010Reply With QuoteReport This Post
  Powered by Social Strata  
 

    well-temperedforum.groupee.net    The Well-Tempered Forum  Hop To Forum Categories  Off Key    Always read the fine print