jobs report
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Due to a ‘Misclassification Error’ the Unemployment Rate Looks Like It’s Dropping Faster Than It Actually Is
On Friday, the Bureau of Labor Statistics released its official jobs report for May which reported the first drop in the unemployment rate since the pandemic began wreaking havoc on the U.S. economy. Just one problem: The number was off by 3 percentage points. According to the Washington Post, the BLS added a note to…
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#ThanksObama: Unemployment Rate Falls to 9-Year Low
The U.S. unemployment rate is the lowest it has been in almost a decade, according to the newest jobs report from the Bureau of Labor Statistics (pdf). According to the report, the unemployment rate declined to 4.6 percent in November, and payroll employment increased by 178,000. It’s been seven years since the recession officially ended,…