Millions of U.S. residents were counted as employed in April despite having no job, suggesting April's true unemployment rate was closer to 20%, much higher than the official 14.7% reported, the Labor Department said Friday.
SAN FRANCISCO - Millions of U.S. residents were counted as employed in April despite having no job, suggesting April’s true unemployment rate was closer to 20%, much higher than the official 14.7% reported, the Labor Department said Friday.
The jobless rate should have included people on temporary unpaid leave, furloughed because of the coronavirus pandemic, the government said. “One assumption might be that these additional 7.5 million workers ...should have been classified as unemployed on temporary layoff,” a note attached to the government’s jobs report Friday said.The jobs report probably also undercounted the unemployment rate in a second way - by missing people who wanted work but weren’t looking for it because of near-ubiquitous stay-at-home orders to slow the spread of COVID-19.
But in April, 9.9 million people who were not in the labor force - one in every 10 - also said they wanted a job, the highest number since the Labor Department began keeping track.
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