The total number of people who were truly unemployed in June was 25.3 million.
And man that sucks (with “sucks” meaning, “swallowing everything in its path,” like a black hole of doom).
Real Unemployment Rises to 16.2% in June — 25.3 Million People
Friday, July 08, 2011
By Matt Cover
(CNSNews.com) – The real unemployment rate rose to 16.2 percent in June, the Bureau of Labor Statistics (BLS) reported on Friday, marking a return to levels not seen since January 2011.
The “real” unemployment rate is technically a combination of three measures of unemployment: the unemployment rate, the number of people working part-time who want full-time work, and the number of people “marginally attached” to the workforce.
Those who have left the workforce but would still like to be employed are considered marginally attached.
This figure is considered a more complete measure of unemployment because it captures a broader spectrum of those affected by the weak economy. Merely counting those who apply for unemployment benefits as “unemployed” does not fully account for everyone who is out of work or underemployed.
This real unemployment rate – known as the U6 rate – has been climbing since February 2011 when it was at 15.9 percent. Real unemployment peaked in October of 2009 at 17.4 percent, before falling into the 16 percent range for much of 2010.
It now appears that the real unemployment rate is returning to its 2010 levels, trending upward after staying slightly below 16 percent from February to May.
The total number of people who were truly unemployed in June was 25.3 million — the 14.1 million who were unemployed, the 2.7 million who were marginally attached to the workforce and the 8.6 million who were underemployed.
Here’s an official statistic from the BLS for all of you “Bush-blamers”:
Oh, yeah, that Bush was a real job murderer, he was. Good thing we’ve got Obama now righting all those Bush wrongs.
The problem is that Obama isn’t “right” about ANYTHING. Which leaves the American people pretty much screwed.
Understand something: the Obama administration assurred us that his $3.27 TRILLION stimulus boondoggle would have unemployment down to 6.5% by now. But rather than acknowledging that Keynesian economics just dug its own grave, hopped in, and covered itself up with dirt where it should remain for all eternity, we are instead met with statements of fanatic religious faith that “the stimulus saved us from a depression.”
This from the same bunch of geniuses who damn Bush for his overall 5.26% unemployment rate and absolving Obama for his 9.3% unemployment average during his three years to date.
5.26%. Bill Clinton paved the streets with gold, we are all told. And HIS unemployment rate average was 5.2% (i.e., pretty much the same as Bush’s). And then consider the fact that George Bush also had to deal with the Dotcom bubble collapse that began under Bill Clinton (which wiped out 78% of the Nasdaq stock exchange and vaporized $7.1 TRILLION in wealth) to go along with the 9/11 attacks and the two wars they necessitated.
Bush really doesn’t look bad at all, in hindsight to the failure Obama has brought America. But a failed demagogue Big Brother needs to have an Emmanuel Goldstein to bear the blame. That trick has been around since failed leaders have been around.
This is God damn America. And I suppose you can think of it this way: in God damn America, you DO have a job. In God damn America the only job you really need is the one you’ve got bearing the wrath of God for voting for the most evil president in American history.
Tags: 16.2%, 25.3 million, 5.2%, 5.26%, BLS, Bureau of Labor Statistics, Bush, Bush's average unemployment rate, Clinton, God damn America, jobs, keynesian, promised, real unemployment, stimulus, total number, U6, unemployed, unemployment rate, worforce