[lbo-talk] fresh punditry

Marv Gandall marvgandall at videotron.ca
Thu Apr 9 05:17:45 PDT 2009


SA wrote:


> Marv Gandall wrote:
>
>> How did they measure unemployment in the early 30's, before the New Deal
>> introduced UI, whose claims are the basis for determining the official
>> rate
>> most commonly used today?
>
> The official rate was never based on unemployment insurance claims. It's
> based on responses to questions asked in the BLS's monthly survey of
> households.
=================================== Sorry, I must have been thinking weekly claims.

Why did they settle on the household rather than the payroll survey as the official rate? Does the household survey tend more to understate joblessness?



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