Chicago Fed economists see ‘U-Cov’ jobless rate as high as 34%

(From Thompson Reuters)

“The unique nature of the COVID-19 crisis has led to the furlough of many workers and has also made it difficult for people to look for new work, even if jobs are available,” they said. “The evidence suggests that employment losses are likely in the tens of millions, but many individuals are finding it hard to actively look or be available for work and therefore be classified as unemployed.”

Reprinted from: https://www.ac2news.com/2020/05/chicago-fed-economists-see-u-cov-jobless-rate-as-high-as-34/