Census: Household Pulse Survey shows 26.4% Missed or Expect to Miss Rent or Mortgage Payment

First, from @ernietedeschi Employment in the @uscensusbureau Household Pulse Survey fell by -4.1 million last week alone. That's a cumulative loss of -6.7 million jobs between the reference weeks used for the June & July monthly jobs report. Seasonality and survey noise may be factors here -- the HPS is a new, experimental survey with limited history. However it also did an admirable job of predicting the strong employment growth in June. This graph is from Ernie Tedeschi (former US Treasury economist). CR Note on above graph: The Pulse Survey doesn't align exactly with the BLS......(read more)

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