Analytical Reviews

Get the latest economic news from ForexMart, including updates on the financial market, central bank policy announcements, financial indicators, and other relevant news which can impact the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Labor Department published flawed estimates of weekly jobless claims


December, 01 2020
watermark Economic news

The US Government Accountability Office (GAO) drew attention to the inaccuracy of the weekly data of the Department of Labor on the number of Americans receiving unemployment benefits. Now the Ministry of Labor will point out the current inaccuracies in its reports.


As noted in the GAO report, the ministry equates the number of applications to the number of Americans receiving unemployment benefits. However, it is really about the number of weeks for which the benefit is requested. For example, if one person applies for 6 weeks, then the statistics will reflect this as appeals of six individual applicants.


This method of counting was considered traditional before the pandemic and always made it possible to accurately calculate the number of beneficiaries. However, against the background of rising unemployment and the number of support programs in March and April, the data ceased to reflect the number of unemployed in the country.


Despite the inaccuracy of the US Department of Labor data, economists believe that they provide an estimate of the general trend.


コメントする

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.