Optimistic U.S. unemployment figures under-reported due to misclassifications - News Summed Up

Optimistic U.S. unemployment figures under-reported due to misclassifications


In that case, the unemployment rate would have been roughly five points higher than the 14.7 per cent reported. A survey of households establishes the unemployment rate. But the government still gathered enough responses to produce the jobs report. Nearly all industries added jobs last month, a sharp reversal from April, when almost all cut them. Hotels and restaurants added 1.2 million jobs in May, after shedding 7.5 million.


Source: CBC News June 06, 2020 18:14 UTC



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