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Response to DallasNE (Reply #4)

Thu Apr 22, 2021, 09:52 PM

5. "counting people on temporary layoff and drawing benefits as employed"

they are not supposed to be

https://www.bls.gov/news.release/empsit.nr0.htm

As in previous months, some workers affected by the pandemic who should have been classified as
unemployed on temporary layoff were instead misclassified as employed but not at work. However, the
share of responses that may have been misclassified was highest in the early months of the pandemic
and has been considerably lower in recent months. Since March 2020, BLS has published an estimate of
what the unemployment rate might have been had misclassified workers been included among the
unemployed. Repeating this same approach, the seasonally adjusted unemployment rate in March 2021
would have been 0.4 percentage point higher than reported. However, this represents the upper bound of
our estimate of misclassification and probably overstates the size of the misclassification error.

More information about the impact of the pandemic on the two surveys is available at
www.bls.gov/covid19/employment-situation-covid19-faq-march-2021.htm.


The monthly JOLTS reports are showing that there is a LOT of turnover, both hires and separations, compared to pre-pandemic times.

As for the monthly "first Friday" official unemployment rate, they don't count jobless people who said they did not look for work in the last 4 weeks as "unemployed". Nor employed. They are classified as "not in the labor force".

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Replies to this discussion thread
Arrow 7 replies Author Time Post
mahatmakanejeeves Apr 2021 OP
nitpicker Apr 2021 #1
mahatmakanejeeves Apr 2021 #2
bucolic_frolic Apr 2021 #3
DallasNE Apr 2021 #4
LineLineNew Reply "counting people on temporary layoff and drawing benefits as employed"
progree Apr 2021 #5
DallasNE Apr 2021 #6
progree Apr 2021 #7
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