Journal Article

Adjusting the Unemployment Thermometer


Abstract: Stay-at-home orders issued to slow the spread of COVID-19 may have severely distorted labor market statistics, notably the official unemployment rate. A method to correct the survey biases associated with the pandemic indicates that the true unemployment rate was substantially higher than the official rate in April and May. However, the biases appeared to fade thereafter, making the drop in June even more dramatic than implied by the official data.

Keywords: covid-19; unemployment;

Access Documents

File(s): File format is text/html https://www.frbsf.org/wp-content/uploads/el2020-27.pdf
Description: Full Text

Authors

Bibliographic Information

Provider: Federal Reserve Bank of San Francisco

Part of Series: FRBSF Economic Letter

Publication Date: 2020-09-03

Volume: 2020

Issue: 27

Pages: 01-05

Related Works