The number of real unemployed workers in all four categories - official BLS, part-time-of-necessity, marginally attached, and discouraged - decreased by 193,000 workers to 28.2 million, which remains more than twice BLS's official figure of 13.5 million. Significant changes in real employment included: private service-providing sector employment increasing by 199,000 jobs; manufacturing increasing by only 17,000 jobs; construction employment flat after increasing by 37,000 jobs in February; and government employment, mostly local, again declining, this month by 14,000 jobs.
The real unemployment rate is 17.7%, compared to last month's real unemployment rate of 17.8% and to BLS's dramatically lower 'official' rate of 8.8%.
The number of real unemployed workers has increased by 11.5 million since the start of the Recession, and just since December 2008 by 3.7 million. The latter figure and the Jobs Gap figure that follows are of significant political import, since the economy needs to add at least 150,000 new private sector jobs each month simply to keep up with population growth.
For more: Steve Clemons: Real Unemployment Shows US Economy Short 20 Million Jobs
No comments:
Post a Comment