Quote:
https://apple.news/A2kabo7lRQce-KDRyE-MqiA
Turns out the “smart people” were right.
“The special note said that if this “misclassification error” had not occurred, the “overall unemployment rate would have been about 3 percentage points higher than reported,” meaning the unemployment rate would be about 16.3 percent for May. But that would still be an improvement from an unemployment rate of about 19.7 percent for April, applying the same standards.” Originally Posted by iahflyr
‘Misclassification error’ made May unemployment rate look better than it is. Here’s what happened.https://apple.news/A2kabo7lRQce-KDRyE-MqiA
Turns out the “smart people” were right.
nope, “smart people” where still wrong, even with the clerical error taken into account. Did you read the article? Almost all economists were saying total unemployment would rise in May from April. Either data point you look at says unemployment dropped. Just take the good news and run with, geez dude!