by Wolf Richter
Wolf Street
Low income earners got crushed. Many high-income earners could work-from-home.
Trying to figure out what the actual unemployment situation in the US is has become tricky. The government produces two major indicators that contradict each other. The Department of Labor said last Thursday that 30.2 million people continued to claim state or federal unemployment insurance, based on actual unemployment claims that were processed, however behind they may still be. And the Bureau of Labor Statistics asserted that the labor market has improved rapidly since April, and that in June, unemployment was down to 17.8 million people.