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ADA Updates
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.” ADA National Director Michael J. Wilson: “The modest extension of unemployment benefits passed by Congress this week is not enough,” Wilson continued. “Despite improvements on Wall Street, the Great Recession is getting worse for millions of Americans who have been laid off since it began in December 2007. “There are over 15 million out-of-work Americans vying for 3 million available jobs." View All ADA Updates Comments
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The real unemployment rate released today by the Bureau of Labor Statistics is 17.5%, over 7 points higher than the officially reported rate.