Chicago Fed estimates US unemployment rate remains basically stable

BlockBeats News, October 27, the Chicago Fed released an estimate on Monday showing that the U.S. unemployment rate has remained basically stable over the past two months, while the government shutdown has delayed the release of official data. The regional Fed's real-time unemployment rate forecast shows an unemployment rate of 4.35% in October, compared to 4.34% in September.

The latest official data released by the U.S. Bureau of Labor Statistics in early September showed that the unemployment rate in August was 4.3%. The Chicago Fed stated that its estimate may only partially reflect the furlough of federal employees caused by the government shutdown. Its methodology combines data from official sources with channels from the private sector, such as job posting websites, surveys, and payroll companies. (Golden Ten Data)