Economic Fact Sheet – EPI

Just how serious in the economic recession that the United States finds itself in?

Check out the “Labor Day by the Numbers 2o11” fact sheet produced by the Economic Policy Institute and published Septemebr 5,2011.

In it you will discover that:

  • The economy needs 11.2 million jobs to regain its pre-recession level of employment.
  • In August 2011, the economy added zero (0) jobs.
  • 17,000 private-sector jobs were created in August 2011; 17,000 public-sector jobs were lost that month.
  • In August 2011, there were 2.5 million workers who wanted a job, were available to work, but had given up actively seeking work and so were not counted as offi cially unemployed.
  • In total, there are 6.9 million fewer jobs today than there were in December 2007.
  • The unemployment rate in August 2011 was 9.1%.
  • There were 14.0 million unemployed workers in August 2011, 6.3 million more than in December 2007.
  • The underemployment rate (i.e., those who are unemployed, marginally attached, or working part time involuntarily) was 16.2% in August 2011.
  • There were 25.3 million workers who were either unemployed or underemployed in August 2011.
  • In August 2011, there were 11 States with double-digit unemployment rates.

It is going to be interesting to hear the President’s economic speech on Thursday evening and how he proposes to bring recovery and growth to our economy.

America’s working men and women are waiting to hear.

******************************

EPI states that this seasonally adjusted underemployment data is calculated using the most recent data available from June.

To read the complete fact sheet, see here

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