COVID and Unemployment – Official jobless figures will miss the economic pain of the pandemic — Job Market Monitor

An estimated 46 million Americans have already been laid off or seen a reduction in hours as a result of COVID-19, according to Gallup survey data collected from March 27 to March 31, 2020. This amounts to around 28% of workers.

But these massive losses are unlikely to register in the official data from our federal agencies. The Gallup data suggest that as many as 40 million of those laid off or facing reduced hours will not be officially considered unemployed by the Bureau of Labor Statistics (BLS) because they are not actively looking for work.

via COVID and Unemployment – Official jobless figures will miss the economic pain of the pandemic — Job Market Monitor