said last Thursday
that 30.2 million people
continued to claim state
or federal unemployment
insurance, based on actual
unemployment claims
that were processed.
The Bureau of
Labor Statistics,
on the other hand,
reported the
labor market
has improved rapidly
since April 2020 --
by June 2020,
unemployment
was down
to 17.8 million
people.
Thats a HUGE difference.
According to the BLS,
April was the peak
of the unemployment crisis,
and an unemployment
recovery took off in May
and June.
I have reported here
that is not true.
The Census Bureau's weekly
Household Pulse Survey,
suggests the 30 million
unemployed is right.
The Census started the
Household Pulse Survey
this year to track the effects
of the COVOD-19 virus.
“Week 1” was based on surveys
sent to households in the week
from April 23 through May 5.
This was well into the crisis.
The Census asked:
(1)
“In the last 7 days,
did you do ANY work
for either pay or profit?”
( Yes or no, including
self-employment. )
In both Week 1,
and in Week 12,
48% reported
NOT having done
any work over
the “last 7 days.”
Unchanged
in 12 weeks.
Week 12, split
by age category,
versus Week1:
-- Improved for 18-24-year-olds,
at 45%, up 5 points, perhaps
for new summer jobs ?
-- Unchanged for 25-39-year-olds,
at 37%.
-- Worsened for 40-54-year-olds,
up by 1 point, to 36%.
-- Worsened for 55-64-year-olds
up by 1 point, to 46%
The Census also asked:
(2)
“Have you, or has anyone
in your household experienced
a loss of employment income
since March 13, 2020?”
(yes or no, for any reason
-- layoffs, illness, caring
for a relative, hours cut, etc.)
The latest survey
was for “Week 12”
– July 16 - 21 --
showing for US adults
(aged 18+),
For Week 12,
51.2% had a “loss of
employment income”,
up from 47.0% during
“Week 1”.
% of Adults experiencing
loss of employment income
since March 13, 2020
by income category:
Less than $25,000 60.1%
$25,000 – $34,999 58.2%
$35,000 – $49,999 57.3%
$50,000 – $74,999 51.6%
$75,000 – $99,999 47.2%
$100,000 – $149,999 45.9%
$150,000 – $199,999 36.5%
$200,000 and above 33.0%
Here are some of
the worst-hit states:
(51.1% is US average)
Nevada: 65.6%
California: 58.6%
New York: 58.1%
Mississippi: 56.2%
Michigan 56.0%
Hawaii: 55.8
New Jersey: 55.4
Louisiana: 54.6%
Rhode Island: 54.0%
Texas 53.5%
Illinois: 52.5%
Oregon: 52.4%
Data coming from
the Census Bureau
suggests 30 million
unemployed
makes sense.
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