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Real Unemployment at 13.9%
Feb 06, 2009
WASHINGTON
WASHINGTON
The real unemployment rate released today by the Bureau of Labor
Statistics is 13.9%, nearly double the official 7.6% rate reported.
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 steep increase of 598,000 newly
unemployed for January pushed that figure to its highest level since 1974, and underscored
the urgency for an aggressive, swift and large enough economic recovery plan to
reverse the downward economic trend.
Since the recession began in December 2007, a staggering 3.6 million
jobs have been lost.
ADA National Director, Amy Isaacs,
said, "Enough is enough. Every day
that Congress delays passing President Obama's job creation plan, the
economy hemorrhages thousands more jobs.
The time for bold action from our elected leaders is now."
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The real unemployment rate released today by the Bureau of Labor
Statistics is 13.9%, nearly double the official 7.6% rate reported.
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 steep increase of 598,000 newly
unemployed for January pushed that figure to its highest level since 1974, and underscored
the urgency for an aggressive, swift and large enough economic recovery plan to
reverse the downward economic trend.
Since the recession began in December 2007, a staggering 3.6 million
jobs have been lost.
ADA National Director, Amy Isaacs,
said, "Enough is enough. Every day
that Congress delays passing President Obama's job creation plan, the
economy hemorrhages thousands more jobs.
The time for bold action from our elected leaders is now."
The real unemployment rate released today by the Bureau of Labor
Statistics is 13.9%, nearly double the official 7.6% rate reported.
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 steep increase of 598,000 newly
unemployed for January pushed that figure to its highest level since 1974, and underscored
the urgency for an aggressive, swift and large enough economic recovery plan to
reverse the downward economic trend.
Since the recession began in December 2007, a staggering 3.6 million
jobs have been lost.
ADA National Director, Amy Isaacs,
said, "Enough is enough. Every day
that Congress delays passing President Obama's job creation plan, the
economy hemorrhages thousands more jobs.
The time for bold action from our elected leaders is now."
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