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Sigh...this is big news: BLS says it is working to fix a "misclassification error" and after fixing it the unemployment rate would have been about 3 points higher than reported, meaning 16.3%, not 13.3% as Trump was gloating about. washingtonpost.com/business/2020/…
“BLS and the Census Bureau are investigating why this misclassification error continues to occur and are taking additional steps to address the issue."
Help me out here Wall Street folks and economists - I can't remember a "miscalculation error" causing an unemployment number to be 3 percentage points off. I don't remember anything like this from my 2 decades on Wall Street. Anyone else?
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