Covid-19

[Wildreamz]

https://www.cnbc.com/2020/06/05/heres-wh...orted.html

PUBLISHED FRI, JUN 5 20201:29 PM EDTUPDATED FRI, JUN 5 20205:21 PM EDT

Here’s why the real unemployment rate may be higher than reported

• The unemployment rate fell to 13.3% in May, according to a Bureau of Labor Statistics report on Friday. 
  
  
• The agency admitted the real unemployment rate likely exceeds 16%.
  
  
• That’s due an error in how furloughed workers were treated in the data sample. April’s unemployment rate would have been nearly 20% absent that same error. 
  

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TLDR; instead of the widely reported April (14.7%) -> May (13.3%); "true" unemployment rate could be circa April (20%) -> May (16.3%)