Real Unemployment Rate at 16.77%

For Immediate Release

Organization Profile: 
Contact: 

Karen Traeger 202-785-5980; karen@adaction.org

Real Unemployment Rate at 16.77%

We Need Jobs!

WASHINGTON - 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.”

###

THE LAST FIREWALL AGAINST THE LIES

Independent media has become the last firewall against government and corporate lies.   Yet, with frightening regularity, independent media sources are losing funding, closing down or being blacked out by Google and Facebook.  Never before has independent media been more endangered.  If you believe in Common Dreams, if you believe in people-powered independent media, please support our critical Winter campaign now and help us fight—with truths—against the lies that would smother our democracy. Please help keep Common Dreams alive and growing.

Support Common DreamsSupport Common Dreams

ADA is America's most experienced independent liberal lobbying organization. In the spirit of the New Deal and ADA founders Eleanor Roosevelt, renowned economist John Kenneth Galbraith, and former Senator and Vice President Hubert Humphrey we lobby through coalition partnerships, through direct advocacy, and through the media.

Share This Article

More in: