Now, because you no longer qualify for Federal unemployment benefits, if you don't have a job, you don't count. You are a 'discouraged worker' or some such and no longer in the labor force.
Fewer people in the labor force, divided into (the number who are officially out of work (declining also), means the fraction of officially unemployed people will get smaller as the (former) workers are no longer officially part of the labor force.
The timing is such that the numbers should just get better running up to the election as more out of work workers who are no longer officially unemployed are discarded from the labor rolls.
Probably no coincidence, either.
Dang. I could get laid off today and unemployment could tide me over until I’m eligible for SS. HAHAHAHA!
False. Unemployment compensation has nothing to do with how the unemployment rate is calculated.