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11/12/09

Examiner: US Economy - 27 million Americans without full-time work, real unemployment tops 17.5%


For the complete report fromthe Examiner click on this link

Friday's unemployment report offered no comfort to economists, government officials and the 27.4 million Americans now unable to find full-time employment. In recent months unemployment numbers have produced growing economic concerns over the likelihood of an economic recovery that fails to produce job growth; and this month's unemployment report, coupled with recent GDP estimates point support those concerns. Despite billions of dollars in stimulus spending that continues to flow out of Washington, the Department of Labor report pointed to job loss numbers that have failed to improve amid the spending. The Department of Labor reported a rise in the adjusted non-farm unemployment rate to a new high of 10.2% after the economy shed another 190,000. However, the Department of Labor also reports that the number of unemployed Americans increased by 558,000 last month, representing a sharpest increase in unemployment since this spring. In addition, beyond the adjusted payroll number lies a host of employment numbers including the disturbing reality that 27.4 million Americans are now unable to find full-time employment.

According to the Department of Labor, 15.7 million Americans are now unemployed. 9.3 million Americans are unable to find full-time employment and 2.4 million Americans have simply given up. As a result, 27.4 million Americans are now unable to find full-time employment.

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