CEO Jim Clifton points out that the "official" rate doesn't include discouraged workers who've stopped looking for work, part-time workers who'd rather work full-time, and the underemployed - college grads flipping burgers or walking dogs. Also omitted: the millions on Social Security "disability" whose primary problem is the inability to find an appropriate job. He concludes:
I hear all the time that "unemployment is greatly reduced, but the people aren't feeling it." When the media, talking heads, the White House and Wall Street start reporting the truth -- the percent of Americans in good jobs; jobs that are full time and real -- then we will quit wondering why Americans aren't "feeling" something that doesn't remotely reflect the reality in their lives. And we will also quit wondering what hollowed out the middle class.Hat tip to RealClearPolitics for the link.
