Real Unemployment Rate: 20 Percent American Households Have No Job
WASHINGTON, DC. I’ve been discussing the jobs and unemployment situation since February 2010 where reports tell a stunning picture about the jobs situation in America:
The number of people not working is significantly higher than previously thought.
“…in 2013, 9.6 percent of families included an unemployed person, down from 10.5% in 2012.” Then the BLS said, “Of the nation’s 80.4 million families, 80.0 percent had at least one employed member in 2013.”
— Source: U.S. Bureau of Labor Statistics (PDF)
When you reverse engineer the math on this last sentence, “80.0 percent had at least one employed member in 2013;” this means that 20 percent of all American households didn’t have a single person in the home with a job. Does any of this math sounds like an “economic recovery” to you?