The Real Unemployment Rate: 14.4 Percent

In the wake of today’s Labor Department numbers, the Senate Republican Policy Committee said the real unemployment rate is not 7.7 percent, but 14.4 percent for November.

The “real” number of unemployed Americans is 22.7 million, Sen. John Barrasso’s (R-Wyo.) committee said in a release. “These are people who are unemployed (12.0 million), want work but have stopped searching for a job (2.5 million), or are working part time because they can’t find full time employment (8.2 million).”

“The difference from when President Obama took office is 475,000 more Americans unemployed or underemployed,” the committee continued.

“The labor force participation rate is 63.6 percent, a decline of 0.2 percentage points or 350,000 people. If the labor force participation rate were the same as when the President took office, the unemployment rate would be 10.7 percent. …The number of Americans searching for work for more than 27 weeks is 4.8 million, a decrease of 200,000 from October. The average number of weeks a worker is unemployed is 40.0 weeks — double from when President Obama took office.”  Still, Democrats in the upper chamber declared the report to be positive news.

Source: Vision to America, Filed under Government, Politics Posted on December 7, 2012

Comments:

Expect more lay-offs to pay for higher taxes and Obama-care, along with a further dip in demand and a lower GDP. Real inflation will continue to be over 10%.  Most new jobs will be government jobs and will fall short of 150,000 per month.  New entrants of U.S. citizens to the workforce will continue to be 150,000 per month.  New legal immigrants with work permits will continue to be 125,000 per month.  Real unemployment will continue to rise, because we will slow job growth well below the 275,000 new entrants we need jobs for each month.

Norb Leahy, Dunwoody GA Tea Party Leader