Thousands told to repay unemployment benefits

CNBC's Rahel Solomon reports on how thousands of unemployed workers have been asked to repay unemployment benefits.

Amid the recent good news about stronger-than-expected job growth in May, some economists have eyed one labor statistic with a sense of bewilderment.

Specifically, the share of people getting jobless benefits last month exceeded the share of unemployed workers.

On its face, that may seem impossible — how could there be more people collecting unemployment than there are actual unemployed people?

That had never previously occurred since the government began collecting data on the “insured unemployment rate” in the early 1970s.

Economists took to Twitter to express confusion over the anomaly after the Bureau of Labor Statistics released its most recent jobs report on June 5.

Jay Shambaugh, an economist at the Brookings Institution, called it “puzzling.”

But the situation makes sense when accounting for an expansion of unemployment benefits provided by federal relief legislation and differences in how the statistics are determined, according to experts.
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