US unemployment would be higher if illegal immigration were counted correctly: Goldman Sachs [Yahoo! Finance]
Goldman Sachs Group, Inc. (The) (GS)
Last goldman sachs group, inc. (the) earnings: 4/15 07:30 am
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Source: Yahoo! Finance
The Goldman strategists, led by chief economist Jan Hatzius, projected the immigration spike has actually increased the American labor force by about 1.1 million and household employment by 1 million. When accounting for those figures, they found the unemployment rate in March would increase to 3.9% from the previously reported 3.8% figure. The inconsistency in the data stems from the way that immigration is covered. GOVERNMENT HIRING SPREE PROPPING UP THE US JOB MARKET The Labor Department's monthly employment report is based on two surveys. The establishment survey, which gathers data from about 122,000 businesses and government agencies, is used to calculate how many jobs the U.S. adds each month. The other is based on monthly interviews of about 60,000 households and is used to determine the unemployment rate. READ ON THE FOX BUSINESS APP But the latter household survey relies on a population estimate from the Census Bureau as a benchmark that has "failed to capture t
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Earnings
- 4/15/24 - Beat
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Sec Filings
- 5/3/24 - Form 424B2
- 5/3/24 - Form 424B2
- 5/3/24 - Form 424B2
- GS's page on the SEC website