Americans aren't finding jobs and unemployment statistics aren't telling the full story about the economy. Millions are out of work. Counting only those Americans who are actively looking for work, the jobless rate is 8.3 percent, just like it was in January. But counting those who stopped looking for work within the last year, the rate is 9.8 percent.
Needed: Legislation that would require the Bureau of Labor Statistics to broaden its definition for the unemployment rate. Count those who stopped looking for work as well, which would reflect last month's rate accurately.
There are 13.9 million unemployed people in the U.S. – and that just counts those looking for work. There are
23,730,000 Unemployed and
Underemployed Americans.
If
all these folks started their own state, they would rank third in the US, just
behind California and Texas, yet still in front of 19.5 million New York.
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