Sunday, July 06, 2008

George W. Bush's 'real' unemployment rate

"In addition to the 8.5 million Americans counted as unemployed, an additional 5.4 million were working part time because they were unable to find full-time work, the government said. About 1.6 million others were "marginally attached" to the labor market -- that is, they had looked for work sometime in the last 12 months but had become discouraged, entered school or decided to stay home to care for family."
Some quick and simple addition tells you that at the end of June there were 15.5 million people either completely out of work or working part time because they are unable to find a fulltime job.

The Bureau of Labor Statistics reports the U.S. 'civilian labor force' at '154.4 million' at June 30. Even a wingnut can quickly figure out that 15.5 million is more than 10% of 154.4.

That (10%) is what Bush's 'real' unemployment rate is.

But for those of you who read 'done that', you know high unemployment during a Republican administration is not news. Just wait and see how bad it gets if John McSame gets elected.