According to the Bureau of Labor Statistics, the April 2012 unemployment rate was 8.1%. Finally, and at long last, the United States employment and economy are headed in the right direction? If you said WRONG you’d be right.
The figure of 8.1% is misleading for several reasons. It doesn’t count the millions of unemployed who have run out of unemployment benefits. It doesn’t count those who seek full-time employment but have to settle for a part-time job. Nor does it take into consideration the millions of frustrated unemployed workers who have given up their search, Counted in the official figures or not, these people are just as under or unemployed.
if you added them back into the calculations of the unemployed, the rate would be well above 14%.
So, should President Obama be re-elected. Maybe he shouldn’t have said, “If unemployment isn’t below 8% by the time of the elections, I think we’re looking at a one-time proposition.” We all say things we don’t mean, but:
- Is the Unemployment Rate Misleading? (dollarsandcommoncents.net)
- Opinion: The Human Disaster of Unemployment (nytimes.com)