Aug 27, 2009

The real unemployment is at 16%

The Philadelphia Bulletin published this:

A report released last week by the Washington, D.C.-based Center for Immigration Studies (CIS) suggests official government estimates may misstate the extent of joblessness in America – and not in a relieving way.

America’s unemployed rate, which was officially at 9.7 percent in June. The official jobless population was 15,095,000 at that point.

Waiting in line to file for unemployment insurance

However, when those who work part-time involuntarily and those who may hope for work but have not actively sought work are factored in, that month’s jobless rate rises to 16.8 percent. America therefore had an estimated underutilized labor force of 26,573,000 million people that month.

Remember when the New York Times bashed George Walker Bush for running off on vacation when the unemployment was 5%?

Funny how the same newspaper is silent when Barack Hussein Obama runs off to Martha’s Vineyard for a week while unemployment is much, much higher.