The Real Unemployment Rate Is Pretty Grim

Steve McCann, writing in The American Thinker, analyzes the actual unemployment data from the Bureau of Labor Statistics.  As he says:

The Obama administration and their sycophants in the (once)-mainstream media trumpeted the increase of 162,000 jobs in March claiming that the recovery in underway and becoming entrenched.  This included 48,000 part-time workers for the Census and another 40,000 new part-time jobs in the rest of the economy.

Nevertheless, behind these headlines the data from the Bureau of Labor Statistics also reveal a grimmer side of the picture.
The number of long-term unemployed (more than 27 weeks) in March rose to more than 6.5 million.  The percentage of people unemployed for 27 weeks or more also rose to a record 44.1% of all jobless.

The figures also showed the average earnings per hour dropped and the number of people working part-time increased.
The underemployment rate — which includes part-time and those who have given up looking increased to 16.9% from 16.8%.  At some point soon many of those who have given up looking will re-enter the workforce in search of employment and thereby exacerbating the unemployment rate.

Further, the latest Gallup Daily tracking (yes, that right wing outfit) found that 20.3% of the U.S. workforce was underemployed in March, up from 19.6% in December and higher than the previous month.

Further in the construction sector, which was touted to be helped by the Obama stimulus bill, the unemployment rate remains at 24.9%?

So, in actuality, the REAL national unemployment rate is not the 9.7% the government would like everyone to believe, but is now somewhere in the high teens. I would guess that some of the estimates I have heard about unemployment rate being somewhere between 18% and 19%, nationally is probably pretty accurate, considering the above. Of course, in states like Michigan and California, the rate will be higher than that.

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