Jobs numbers: beyond the headlines

As you’ve probably heard already this morning, the Bureau of Labor Statistics (BLS) announced that the unemployment rate remained unchanged in September at 9.6 percent. But here are some numbers in the jobs report that you probably haven’t heard about:

6.1 million, or 41.7 percent of unemployed persons have been jobless for 27 weeks or more.

33 weeks is the average amount of time out of work for the unemployed.

26 percent is the unemployment rate for teenagers.  For female African American teenagers, the rate is 49.6 percent.

9.5 million people are employed part time for economic reasons (sometimes referred to as involuntary part-time workers). Over the past 2 months, the number of such workers has increased by 943,000.

17.1 percent is the real unemployment rate if you take into account all workers that have given up looking for work (and therefore aren’t counted as part of the labor force) and all those that are employed part-time for economic reasons. This is equal to almost 27 million struggling Americans.

We have to ask: is Washington really creating an environment for job growth?

This article was posted to Economy category.

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