Record high number of people live in poverty in the US
As the Obama administration raves about creating jobs and reducing the unemployment rate, the unreported reality is that employment-to-population ratio is now lower than during the worst of the 2007-09 Great Recession; this means more people are unemployed at the present time than during the Great Recession.
The Federal government has concluded that the official unemployment rate in America is 7.5-8.5%. Yet this does match the Bureau of Labor Statistics figures which site unemployment as high as 42%. Why the descrepancy?
Just what are the real conditions involving employment in the US and what is causing high structural unemployment?
Even though the jobless rate has supposedly fallen, millions of people aren't counted as unemployed because they've stopped looking for work, or never started. The jobless situation is far worse for African Americans, Latinos and other minorities. But you will never see this reality reflected in the statistics.