Subscribe to Common Dreams News Updates
Progressive Community
The press releases posted here have been submitted by
America's Progressive Community
For further information or to comment on this press release, please contact the organization directly.
Most Popular This Week
Today's Top News
|
FOR IMMEDIATE RELEASE |
CONTACT: Americans for Democratic Action Karen Traeger
202-785-5980; karen@adaction.org |
Real Unemployment Rate at 16.77%
We Need Jobs!
WASHINGTON - February 5 - Americans for Democratic Action’s National Director, Michael J. Wilson, made the following statement about today’s unemployment numbers from the Bureau of Labor Statistics:
“The real unemployment rate released today by the Bureau of Labor Statistics is 16.7% -- a full 7 points higher than the officially reported rate.
“We are beginning to see signs of an economic recovery. Even though we know that jobs are a lagging indicator, we know that is of little comfort to the millions who have remained jobless for week after week after week.
“In addition, as we enter African American History Month, the 24.3% African American unemployment rate means that nearly one in four African Americans is jobless. The Congress and the President need to work together to make sure that the Great Recession’s contribution to history is ending the disparate impact joblessness has on the African American community.
Former Joint Economic Committee Economist and ADA partner Paul Manchester, said the following:
“The unemployment rate fell from 10.0% in December to 9.7% in January. The number of unemployed also fell, from 15.27 million to 14.84 million, which is also good news.
However, the average length of unemployment increased, from 29.1 weeks to 30.2 weeks, a record.
The increase in the duration of unemployment more than offsets the drop in the number of unemployed, so the Manchester Index continued to rise, from 444.3 million weeks to 448.1 million weeks of joblessness. However, it should be noted that this is the smallest increase the last 12 months.”

3 Comments so far
Show AllWhere was your group while our industrial base was being
outsourced to China, with the help of the Clinton Circus?
Not satisfied with the ruination of our economy, Hillary was outsourcing our computer jobs to India.
Tell the people the truth, we the working classes have been
doublecrossed big time by the Democratic Party.
Forget Move-on, let's move out of the democratic party.
ADA was around during the Clinton years and has always been outspoken on trade issues. we do advocate for an industrial policy and support fair trade. Bashing Hillary doesn't move the dialogue forward. The Democrats have been a disappointment on many issues, and we do lobby them to take principled positions on issues such as trade. Look into our work more critically and you will see that we are not blind loyalists to the party.
Sometimes I am not sure everyone is getting the same news channel. Democrats are bad, Republicans are worse. This is not an issue of debate. What you have is two groups intent on the same goal but with different ideas of how to go about it. They are lining their own pockets with tax payers dollars. They are so consumed by the greed, that destroying the American economy is at best a second place concern. Money is what they are after and the idea that any of them are concerned with the welfare of this country is laughable. I have been unemployed for over a year and have watched numerous senate meetings, budget proposals, and debates. The eyes are the window of the soul. What I see are men hoping that their sins will stay hidden long enough for them to make a buck. I could be wrong but something tells me that I am closer to the truth than I really want to be. I say we scrap them all and start over. The government was made to be invisible, The people were not.