Unemployment Rate: May Jobs Report could it be Rigged or just Misclassification Error ?
Last week we got some very unexpected numbers about Americans where on unemployment. In fact, the numbers seem a little too unexpectedly good. This May jobs report showed that 2.5 million jobs were created, and the overall unemployment numbers dropped from 14.7% to 13.3%. These numbers came as a surprise since economists were predicting unemployment rates of 20% or above for the current unemployment numbers. This has led a lot of people to wonder if there has been any monkey business is these newest unemployment numbers, perhaps for political gain, or as a political negotiation tactic, or just plain misclassification for the benefit of White House or Republicans. This new data could put Republicans in a stronger position to negotiate against additional stimulus checks or 3.3. trillion-dollar stimulus packages like the Heroes act, which is meant to provide follow up support from the CARES act that will expire soon. Today we are going to talk about the new Unemployment numbers and weather we should take them at face value or maybe keep a healthy dose of skepticism about their accuracy.