I predict that unemployment figures next month will more than double: not purely from double the job losses, but because the U3 unemployment rate requires people “to be actively seeking employment” to be in the labor force. Considering the BLS performs surveys to arrive at their labor force number, many people will forego actively seeking status due to the $600/wk federal aid and hence the denominator will be suppressed.

A more accurate number which reflects true job losses from the pandemic should be the U6 Unemployment Rate (Referred to as the “real” unemployment rate).