There goes the stimulus

[malamute]

Yes -- "true" unemployment is up - but the government does not measure true unemployment. It counts the numbers receiving unemployment and without yet another extension, many will start to lose this status and will likely move onto the welfare programs.

[compJockey]

This most recent weekly report does not invalidate the monthly report from a week ago.

[saganista]

Originally Posted by compJockey

This most recent weekly report does not invalidate the monthly report from a week ago.

Correct. The unemployment numbers and the numbers for initial claims for unemployment insurance are completely different measures. The point seems to have been lost upon various of the econ whizzes posting upthread, but whether one is or is not receiving unemployment benefits is not considered in any way in compiling the unemployment numbers. The latter are instead derived from the Current Population Survey of some 60,000 households carried out monthly by the Bureau of Labor Statistics. UI data on the other hand are captured as a by-product of national oversight of state unemployment insurance programs, and the data are released weekly by the Employment and Training Administration.