Chicago Fed Estimates US Unemployment Rate Remains Largely Unchanged

BlockBeats News, October 27th, the Federal Reserve Bank of Chicago released an estimate on Monday showing that the U.S. unemployment rate has remained relatively stable over the past two months, while the government shutdown has delayed the release of official data. The real-time unemployment rate forecast from the regional Fed shows that the October unemployment rate is 4.35%, 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 August unemployment rate was 4.3%. The Chicago Fed stated that its estimate may only partially reflect the furlough of federal employees due to the government shutdown. Its methodology combines data from official sources and channels from the private sector, such as job websites, surveys, and payroll companies. (FXStreet)