sharon sanders
Editor-in-Chief & President
Unemployment rate: 9.7 percent. Underemployment: far higher.
The unemployment rate doesn?t count those who have stopped looking for work or part-time workers who want full-time employment. In February, underemployment stood at 16.8 percent.
By Husna Haq Correspondent / March 5, 2010
The unemployment rate last month in the United States was better than expected, holding steady at 9.7 percent, the Bureau of Labor Statistics (BLS) reported on Friday.
Why It Matters
The official unemployment rate doesn't capture the economic stress of millions of Americans who work part time but want full-time jobs or those who have given up looking for work altogether.
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<!-- /podStoryRel --> <!-- Anchor skipper link. Should be placed at the end of the Related Items pod and before the next paragraph --> What the report didn?t say: Almost 17 percent of Americans are underemployed, according to the BLS. A recent Gallup poll puts the figure at almost 20 percent.
This means that nearly 30 million Americans are unemployed or working fewer hours than they?d like, which could put a big drag on any economic recovery.
?The unemployment numbers only show the tip of the iceberg,? says Ed Farrell, director of the Consumer Reports National Research Center. ?The underemployed are discouraged, and their impact on the economy is grossly underestimated.?
Record underemployment rates
The underemployment rate in February ? 16.8 percent to be exact ? was among the highest rates that the BLS has recorded since it started tracking the statistic in 1994, says Stacey Standish, a press officer for the BLS.
more.....
http://www.csmonitor.com/Money/2010/0305/Unemployment-rate-9.7-percent.-Underemployment-far-higher
The unemployment rate doesn?t count those who have stopped looking for work or part-time workers who want full-time employment. In February, underemployment stood at 16.8 percent.
By Husna Haq Correspondent / March 5, 2010
The unemployment rate last month in the United States was better than expected, holding steady at 9.7 percent, the Bureau of Labor Statistics (BLS) reported on Friday.
Why It Matters
The official unemployment rate doesn't capture the economic stress of millions of Americans who work part time but want full-time jobs or those who have given up looking for work altogether.
<!--/ pod wim -->
<!--/podBrdr-->
<!-- /pod -->
<!-- /podBrder -->
<!-- /podStoryRel --> <!-- Anchor skipper link. Should be placed at the end of the Related Items pod and before the next paragraph --> What the report didn?t say: Almost 17 percent of Americans are underemployed, according to the BLS. A recent Gallup poll puts the figure at almost 20 percent.
This means that nearly 30 million Americans are unemployed or working fewer hours than they?d like, which could put a big drag on any economic recovery.
?The unemployment numbers only show the tip of the iceberg,? says Ed Farrell, director of the Consumer Reports National Research Center. ?The underemployed are discouraged, and their impact on the economy is grossly underestimated.?
Record underemployment rates
The underemployment rate in February ? 16.8 percent to be exact ? was among the highest rates that the BLS has recorded since it started tracking the statistic in 1994, says Stacey Standish, a press officer for the BLS.
more.....
http://www.csmonitor.com/Money/2010/0305/Unemployment-rate-9.7-percent.-Underemployment-far-higher