For Immediate Release
David Card 202-785-5980
Real Unemployment at 16.4%
WASHINGTON - The real unemployment
rate released today by the Bureau of Labor Statistics is 16.4%, 7 points higher
than the officially reported rate.
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.”
Seven million people have lost their jobs since December 2007. There are currently 14.5 million unemployed
The number of layoffs in May declined for the fourth straight month
indicating President Obama’s economic recovery plan is having some effect
but underscores the urgent need to put more government dollars to work
motivating the private sector to begin hiring laid-off workers.
ADA National Director, Amy Isaacs,
said: “We must move faster to stop further job loss by investing Federal
dollars in infrastructure, renewable energy projects and education. We welcome the apparent, small steps toward
economic recovery. True recovery will
not occur, however, until Americans are fully employed.”
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