info@adaction.org * http://www.adaction.org For Information Contact: FOR IMMEDIATE RELEASE
A Deceptive Job Recovery -- Real Unemployment at 16.8% The official unemployment rate only accounts for people who are out of work and actively seeking fulltime employment. The real rate, which takes into account part-time workers desiring full-time employment and discouraged job seekers, is a more accurate indicator of the labor market. The new data shows that 8,791 Americans were working part-time last month because they were unable to find full-time jobs and another 2,527 had given up looking for work. In addition, 5.2% of the employed work more than one job in order to support themselves and their families. “With more than 14 million workers seeking employment, the need for federal investment in job creation is as strong as ever.” said Michael J. Wilson, National Director of “While the number of jobless persons rose slightly last month, the average length of unemployment declined from a record 30.2 weeks in January to 29.7 weeks in February, which was still the second-highest figure on record.” said
For far too long, hard-working Americans have struggled to make ends meet while the wealthiest among us grew wealthier still. The House plan addresses President-elect Obama’s call to rebuild the middle class by investing in infrastructure, energy, health care and public schools and providing funds for states to continue critical services. The plan is expected to create or save three to four million jobs and set the country on the right track for long term economic recovery. ADA National Director Amy Isaacs said: “The House economic recovery and job creation plan is the direct result of average Americans coming together and demanding change. President-elect Obama and the House Leadership have responded by proposing a bold plan that addresses the needs of working people and makes certain that everyone will benefit from an improved economy. Together, we can put our country on the right track.” Back to Press Releases |