Rosy Rhetoric On New Unemployment Numbers Doesn't Match Reality For Many Americans | TPMDC
However, the fact is that economists agree that America needs to add 150,000-200,000 jobs every month just to keep pace with new entrants to the job market (about 100,000 people every month) and begin to re-employ the millions of Americans who remain out of work. By that standard, the loss of 54,000 jobs, even if they are mostly temporary census workers, is pretty bad news.
But the bad news doesn't stop there: 6.2 million Americans -- 42 percent of all the unemployed -- have been unemployed for more than 27 weeks. While that's a reduction of 323,000 people, it is roughly equivalent to the number of Americans who are newly part-time employed for economic reasons (331,000). In total, 8.9 million Americans are working to support themselves with part-time work alone because they have no other options. And 2.4 million Americans are deemed marginally unemployed because they are looking for work but don't qualify for unemployment. In all, the underemployment rate is actually closer to 17 percent.
That, of course, doesn't account for people so discouraged by the job market that they've stopped looking for work altogether. According to the Labor Department's statistics, both the labor market participation rate (64.7 percent) and the employment-to-population ration (58.5 percent) are lower than a year ago -- and at the lowest level in a decade.
Discouraged yet? A look at overall government employment won't help. Despite the spin that the loss of jobs is almost all due to the loss of temporary Census jobs, state and local government employees -- especially teachers -- continue to experience job losses.