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FOR IMMEDIATE RELEASE |
CONTACT: Americans for Democratic Action |
Real Unemployment Rate at 16.3%
ADA Calls for Unemployment Benefits Extension
WASHINGTON - August 7 - Americans for Democratic Action, proud liberals fighting on behalf of working and unemployed Americans for 62 years, released the following statement about today's unemployment numbers from the Bureau of Labor Statistics.
The following can be attributed to Michael J. Wilson, ADA's new National Director:
"The real unemployment rate released today by the Bureau of Labor Statistics is 16.3%, nearly 7 points higher than the officially reported rate.
"President Obama's economic recovery plan is working but the real rate of unemployment underscores an urgent need to spur more hiring.
"A jobless recovery is not a recovery.
"Millions of American workers are still struggling to find work. When Congress returns in September, they must extend unemployment benefits," Wilson said.
"America's politicians need to pay more attention to the plight of the unemployed American worker. Americans want to work and we need more opportunity to work hard and to bring home a paycheck."
"More government money is not enough. After they finish health care, and move on extending unemployment, Congress needs to tackle a serious comprehensive jobs and job training package that will spur long-term jobs and diminish unemployment for the long-term unemployed.
"The real rate includes marginally attached workers which the BLS reports "are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not looking currently for a job. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule."
"The real unemployment rate dropped from 16.4 % in June, marking the first decline in unemployment since April 2008. There are currently 25 million workers unemployed or underemployed using the real rate."
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3 Comments so far
Show AllDuring the last depression many people abandoned this country for guarenteed jobs in Soviet Russia,,,
It was the Bill Clinton and Bush families who outsourced our industrial base to China. We have lost some 7 million good paying jobs since Bubba Clinton. We are in a major depression.
The Junking of cars has stimulated jobs in Japan, as most people are buying Japanese cars. What does Obama say about that? The Democrat club wants to train people for new jobs.
What jobs are they referring to?
When Bubba told people, "We will train you for the new jobs
in the computer industry", his wife Hillary was outsourcing
computer jobs to India. Any new type jobs that are created
in this country will be outsourced to China and other third
world countries. We need loyalty from Obama and the rest of the overpaid overeducated Ivy League Crowd in Congress.
Articles that address the true unemployment rate derserve a campanion article that addresses the true consumer price index (hence the true rate of inflation).
Until the 1980s indexes addressed the true rates of unemployment and inflation.
This was good for the working class (realistic COLAs, etc.) but bad for corporations and politicians who were then held accountable.
We are unable to compare the current depression with the 1930s depression or most subsequent recessions due the lack of comparable metrics.