LEO HINDERY EXPLAINS THE REAL UNEMPLOYMENT RATE The number of Real Unemployed Persons decreased by 181,000 to 19.2 million (i.e., the 9.8 million unemployed persons Bureau of Labor Statistics identified plus the 9.4 million workers in total who are either “marginally attached” or “part-time-of-necessity.) The Real Unemployment Rate decreased by 0.1% to 12.2%. In addition to the 19.2 million Real Unemployed Persons at May 31, there were another 4.9 million persons who, while also saying they want jobs, have not looked for work in the past twelve months. Simply because they haven’t looked, these persons are not included among marginally attached workers; if included, then May’s Real Unemployment Rate of 12.2% increases to 14.8%, a figure still more than twice the official BLS rate of unemployment.
Posted on: Fri, 06 Jun 2014 14:14:44 +0000
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