'Underemployed' is different than 'unemployed'
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Editor:
On Dec. 7, 2012 the U.S. Bureau of Labor released the November jobs report. It was a great report - 146,000 jobs were created in November and the unemployment rate has gone down to 7.7 percent from 7.9 percent in October.
I thought. The politicians will really have a great time with this. They'll try to make you believe the hard times are on the wane. Of course there are two sides to every story and the government will always give you the a rosy side.
What is not mentioned is that today the "underemployment rate" is 14.4 percent. This "underemployment rate" consists of those people who have given up looking for a job, or have a part-time job because they cannot find a full-time job.
Statistics show people are finding work in low paying jobs, such as retail and healthcare. 140,000 retail jobs have been created in the last quarter with 53,000 being created in November.
While it is being reported that housing is coming back, reports show that 20,000 housing construction jobs were lost in November. Maybe the rehabilitating of parts of New York and New Jersey will help the home construction sector.
It is now reported that the average time of unemployment is going up to 40 weeks. In 2010 this rate was 30.3 weeks. Also, the Federal Reserve Bank in St. Louis says there are 4.8 million people unemployed.
So things are not coming back as well as the government would want you to think. And if you go to the grocery store, the prices will tell you the true story.
Dick Ford
Sebring
Friday, December 14, 2012 - www.newssun.com/ltr-121412-ford