WCEG Jobs Day Charticle...
Always smart, always interesting, always useful. I am, however, going to suggest that Kate, Carmen, and company focus more on employment rather than unemployment numbers. I am becoming increasingly skeptical of how much the unemployment rate, as the CPS questions are asked and answered, corresponds to the reality of our economy:
Kate Bahn & Carmen Sanchez Cumming: Equitable Growth's Jobs Day Graphs: May 2020 Report Edition https://equitablegrowth.org/equitable-growths-jobs-day-graphs-may-2020-report-edition/: 'On June 5th, the U.S. Bureau of Labor Statistics released new data on the U.S. labor market during the month of May. Below are five graphs compiled by Equitable Growth staff highlighting important trends in the data. As the overall unemployment rate declined to 13.3%, this was led by a decline in white unemployment from 14.2% to 12.4%. Meanwhile, Black unemployment increased slightly from 16.7% to 16.8% and Hispanic unemployment declined from a historic high of 18.9% to 17.6%.... Employment across sectors began to rebound in May, and growth was led by leisure and hospitality after this industry lost nearly half of all employment in the prior month.... After the most extreme decline in employment levels in history in April, the prime-age employment rate moved upward in May to 71.4%... #equitablegrowth #noted #2020-06-08
