[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f30ljxvaitwpu":3,"$ffeh0925h8cuz":38,"$f2emv3tus0uf1":42,"$fbwk2pqjjqsc7":46},{"item":4,"previous":26,"next":32},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":9,"isInfographic":14,"categories":15,"isVideo":14,"videoThumbnail":9,"videoSource":9,"publishedAt":24,"updatedAt":25},1659,"latest-unemployment-report-great-newsfor-the-most-part","Latest Unemployment Report: Great News…for the Most Part","\u003Cem>The Bureau of Labor Statistics\u003C\u002Fem> (BLS) released their latest \u003Ca href=\"https:\u002F\u002Fwww.bls.gov\u002Fnews.release\u002Fempsit.nr0.htm\">Employment Situation Summary\u003C\u002Fa> last Thursday, and it again beat analysts’ expectations in a big way. The consensus was for 3,074,000 jobs to be added in June. The report revealed that 4,800,000 jobs were added. The unemployment rate fell to 11.1% from 13.3% last month. Again, excellent news as the unemployment rate fell for the second consecutive month. However, there’s still a long way to go before the economy fully recovers as 17.8 million Americans remain unemployed.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F07\u002F03111736\u002F20200706-KCM-Share.jpg","\u003Cem>The Bureau of Labor Statistics\u003C\u002Fem> (BLS) released their latest \u003Ca href=\"https:\u002F\u002Fwww.bls.gov\u002Fnews.release\u002Fempsit.nr0.htm\">Employment Situation Summary\u003C\u002Fa> last Thursday, and it again beat analysts’ expectations in a big way. The consensus was for 3,074,000 jobs to be added in June. The report revealed that 4,800,000 jobs were added. The unemployment rate fell to 11.1% from 13.3% last month. Again, excellent news as the unemployment rate fell for the second consecutive month. However, there’s still a long way to go before the economy fully recovers as 17.8 million Americans remain unemployed.\u003C!--more-->\r\n\r\nHere are two interesting insights on the report:\r\n\u003Ch4>\u003Cstrong>What about a supposed misclassification?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nThe BLS addressed this at length in a \u003Ca href=\"https:\u002F\u002Fbeta.bls.gov\u002Flabs\u002Fblogs\u002F2020\u002F06\u002F29\u002Fupdate-on-the-misclassification-that-affected-the-unemployment-rate\u002F\">blog post\u003C\u002Fa> last week, and concluded by saying:\r\n\u003Cblockquote>\u003Cem>“Regardless of the assumptions we might make about misclassification, the trend in the unemployment rate over the period in question is the same; the rate increased in March & April and eased in May.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nThey specifically noted the issue in the latest report by explaining that if they adjusted the rate for the potential miscalculation, it would increase from 11.1% to 12.1% (which is lower than the adjusted rate of 16.4% last month). They went on to say:\r\n\u003Cblockquote>\u003Cem>“However, this represents the upper bound of our estimate of misclassification and probably overstates the size of the misclassification error.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Does the shutdown of parts of the economy skew the unemployment numbers?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nBecause the uniqueness of 2020 impacts the employment situation in so many ways, each jobs report is now examined with a microscope to make sure the headlines generated by the report accurately convey what’s happening in the job market.\r\n\r\nOne such \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2020\u002F06\u002F24\u002Fshould-we-be-looking-at-unemployment-numbers-differently\u002F\">analysis\u003C\u002Fa> is done by Jed Kolko, \u003Cem>Chief Economist\u003C\u002Fem> at \u003Cem>Indeed\u003C\u002Fem>. He believes the extraordinary number of people in the “temporary” unemployed category confuses the broader issue of how many people have permanently lost their job. He adjusts for this when calculating his “core unemployment rate” (which subtracts temporary layoffs and adds unemployed who didn’t search for a job recently).\r\n\r\nThe bad news is that his analysis reveals that the number of permanently unemployed is still rising (from 4.6% in April to 5.9% last month). The good news, however, is when you use his methodology to look back at the Great Recession, today’s “core unemployment rate” is significantly lower (5.9% versus 10.5% in April 2010).\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nLast week’s jobs report was much better than most expected. However, we should remain cautious in our optimism. As the \u003Cem>Wall Street Journal\u003C\u002Fem> explained in their \u003Ca href=\"https:\u002F\u002Feconomics.cmail19.com\u002Ft\u002FViewEmail\u002Fd\u002FBA2971B94423D2202540EF23F30FEDED\u002F5323CD85A2087AFD22947492D9797BBC\">analysis of the jobs report\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“U.S. job growth surged last month, underscoring the economy’s capacity for a quick rebound if businesses continue to reopen and consumers regain confidence. A recent coronavirus spike, however, could undermine trends captured in the latest jobs report.”\u003C\u002Fem>\u003C\u002Fblockquote>","\r\nLast week’s jobs report was much better than most expected. However, we should remain cautious in our optimism. As the \u003Cem>Wall Street Journal\u003C\u002Fem> explained in their \u003Ca href=\"https:\u002F\u002Feconomics.cmail19.com\u002Ft\u002FViewEmail\u002Fd\u002FBA2971B94423D2202540EF23F30FEDED\u002F5323CD85A2087AFD22947492D9797BBC\">analysis of the jobs report\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“U.S. job growth surged last month, underscoring the economy’s capacity for a quick rebound if businesses continue to reopen and consumers regain confidence. A recent coronavirus spike, however, could undermine trends captured in the latest jobs report.”\u003C\u002Fem>\u003C\u002Fblockquote>",false,[16,20],{"id":17,"name":18,"slug":19},5,"For Buyers","buyers",{"id":21,"name":22,"slug":23},6,"For Sellers","sellers","2020-07-06T10:00:53Z","2020-07-06T10:01:05Z",{"id":27,"slug":28,"title":29,"featuredImage":30,"publishedAt":31,"contentType":10,"isVideo":14},1658,"america-is-another-name-for-opportunity-infographic","America Is Another Name for Opportunity [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F07\u002F02131921\u002F20200703-KCM-Share.jpg","2020-07-03T10:00:45Z",{"id":33,"slug":34,"title":35,"featuredImage":36,"publishedAt":37,"contentType":10,"isVideo":14},1660,"taking-advantage-of-homebuying-affordability-in-todays-market","Taking Advantage of Homebuying Affordability in Today’s Market","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F07\u002F06162208\u002F20200707-KCM-Share.jpg","2020-07-07T10:00:01Z",{"cover":39,"open":40,"shareSpread":41},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",{"cover":43,"open":44,"shareSpread":45},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Magazine-original.png",[47,51,52,53,57,61,65,69,73,77,81,85,89,93,97,101,105,109,113,117,121,125,129,133,137,141,145,149,153,157],{"id":48,"name":49,"slug":50},1,"Uncategorized","uncategorized",{"id":17,"name":18,"slug":19},{"id":21,"name":22,"slug":23},{"id":54,"name":55,"slug":56},7,"Foreclosures","foreclosures",{"id":58,"name":59,"slug":60},8,"Infographics","infographics",{"id":62,"name":63,"slug":64},9,"Home Prices","home-prices",{"id":66,"name":67,"slug":68},11,"First-Time Buyers","first-time-buyers",{"id":70,"name":71,"slug":72},34,"Senior Market","senior-market",{"id":74,"name":75,"slug":76},35,"Mortgage Rates","mortgage-rates",{"id":78,"name":79,"slug":80},38,"Move-Up","move-up",{"id":82,"name":83,"slug":84},41,"For Sale by Owner","for-sale-by-owner",{"id":86,"name":87,"slug":88},42,"Featured","featured",{"id":90,"name":91,"slug":92},45,"New Construction","new-construction",{"id":94,"name":95,"slug":96},52,"Luxury \u002F Vacation","luxury--vacation",{"id":98,"name":99,"slug":100},53,"Rent vs. Buy","rent-vs-buy",{"id":102,"name":103,"slug":104},80,"Time-sensitive","time-sensitive",{"id":106,"name":107,"slug":108},81,"Outdated","outdated",{"id":110,"name":111,"slug":112},147,"Internal","internal",{"id":114,"name":115,"slug":116},148,"Do Not Autopost","do-not-autopost",{"id":118,"name":119,"slug":120},320,"Inventory","inventory",{"id":122,"name":123,"slug":124},321,"Agent Value","agent-value",{"id":126,"name":127,"slug":128},322,"Affordability","affordability",{"id":130,"name":131,"slug":132},323,"Buying Tips","buying-tips",{"id":134,"name":135,"slug":136},324,"Downsize","downsize",{"id":138,"name":139,"slug":140},325,"Economy","economy",{"id":142,"name":143,"slug":144},326,"Equity","equity",{"id":146,"name":147,"slug":148},327,"Forecasts","forecasts",{"id":150,"name":151,"slug":152},328,"Selling Tips","selling-tips",{"id":154,"name":155,"slug":156},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":158,"name":159,"slug":160},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]