Real Unemployment 17.7% & Shows US Economy Short 20 Million Jobs would you like one too??????
Every month, media business executive and former Obama for President finance committee member Leo Hindery puts out a very detailed memo breaking out the national unemployment data -- showing what is real and what is not regarding the Bureau of Labor Statistics' monthly release of jobs data.
One of the chief data abuses that Hindery has focused an enormous, hot, raging spotlight on is the giant gap between official unemployment (now pegged at 8.8% of the population) and "real unemployment" which Hindery documents at 17.7% of the population.
Hindery points out that the US economy is 20.2 million jobs short of what it needs for full employment.
In his figures, Hindery accounts for "discouraged workers" who just stop trying to get new jobs and those who are "under-employed", i.e., partially but not completely employed.
Some in the national press, notably the New York Times, when commenting on real unemployment, still leave out those discouraged workers who while wanting a job have removed themselves from the labor force. Yet this remains a huge category (3.8 mm) and arguably the most 'unemployed' of the four categories. The all-in real unemployment rate of 17.7% drops to 15.7% when these workers are not included.)
The average number of weeks unemployed is at least 39.0 and the number of workers unemployed a half year or longer is at least 9.9 million (i.e., BLS's official figure of 6.1 mm plus the 3.8 mm discouraged workers). Each figure remains unprecedented in modern times, and when considered together, they are always a much better measure of the real employment condition than the commonly used weekly "initial jobless claims" number.
Publisher of "The Washington Note"
Barack Obama it is about ---JOBS JOBS JOBS.....but it has never been about jobs with You????
With you Obama It is about more Food Stamps, Welfare, More unemployment , Free Cell Phones for you soul bothers and sister. Put them to work so they can buy them since I am sick of having to pay for them