Friday, June 5, 2020

Was The 13.3% Unemployment Rate Written With a Sharpie? UPDATE

President Trump did a victory lap this morning when the Bureau of Labor Statistics announced the national unemployment rate had been reduced from 14.7% to 13.3% for the month of May.

The reduction in the unemployment rate is being attributed to the reopening of the economy in some parts of the country which added 2.5 million jobs.

However, economists had been anticipating an unemployment rate of nearly 20%. Even if we accept that economy added 2.5 million jobs last month, 1.8 million unemployment claims were made last week. At least 2 million jobless claims were made each of the previous four weeks.

As The Robot from Lost in Space would say, "It does not compute."

Let me put it another way. I wonder if this 13.3% unemployment rate was written with a sharpie. Perhaps with the same sharpie Trump used last year to alter the NOAA map to suggest Alabama was in the path of Hurricane Dorian.


UPDATE: As I suspected there is something rotten going on as the Bureau of Labor Statistics admitted there was "a misclassification error" and the unemployment rate is probably more like 16.3%. There is no word as to whether a sharpie was part of the miscalculation.

If the BLS revises May's unemployment numbers I'm sure Trump will accuse them of being part of the so-called "deep state".

If BLS

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