Real Unemployment 9.7%

By Michael W. Chapman | August 31, 2016 | 5:31 PM EDT

(AP) 

(CNSNews.com) -- According to Gallup, relying on data from the Bureau of Labor Statistics (BLS), the real unemployment rate on July 1 was 9.7%, which was up from 9.6% on June 1.

That is nearly double the often cited unemployment rate, which was "officially" 4.9% in July.

"Widely reported unemployment metrics in the U.S. do not accurately represent the reality of joblessness in America," said Gallup on its website. 

"For example, the U.S. Bureau of Labor Statistics (BLS) does not count a person who desires work as unemployed if he or she is not working and has stopped looking for work over the past four weeks," said Gallup.  "Similarly, the BLS does not count someone as unemployed if he or she is, for instance, an out-of-work engineer, construction worker or retail manager who performs a minimum of one hour of work a week and receives at least $20 in compensation."

"The 'Real Unemployment' metric from the BLS combines those who are unemployed, underemployed and marginally attached to the workforce," explained Gallup. 

According to BLS data, the Real Unemployment rate has not fallen below9.6% since April 2008, when it was 9.2%.

The unemployment numbers for August should be released this Friday by the BLS. 

Gallup. 

 

Michael W. Chapman
Michael W. Chapman
Michael W. Chapman