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Economists and traders were shocked after the unemployment rate unexpectedly dropped in May 2020 after shooting up in March and April due to the coronavirus pandemic. The Bureau of Labor Statistics even admitted that there was a “misclassification error” that counted people as employed, rather than unemployed. What happened and how is it being fixed?
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A Labor Shortage Is a Great Problem to Have
Today’s jobs report from the Bureau of Labor Statistics shows the unemployment rate continuing to hold close to its lowest level in 70 years, despite a slight uptick last month. This might seem Read more…
Why Raising the Minimum Wage Will Grow the Economy, Not Kill Jobs
Raising the minimum wage would not increase unemployment; it would increase living standards for low-income workers—and, critically, it would boost overall U.S. productivity growth.
Time to End the Race-to-the-Bottom on Unemployment Insurance
While the unemployment rate had fallen to 6.9 percent in October, the employment-population ratio was 3.7 percentage points lower than in February. 6.7 million workers were no longer looking for work and 3.6 million workers were unemployed for 27 weeks or more.
