UCubed: December Jobless Report Will Be ‘Misleading’

“The December unemployment numbers from the Bureau of Labor Statistics will be misleading,” said Rick Sloan, Executive Director of the Union of Unemployed.

“Since the start of this recession, 7.3 million Americans have dropped out of the workforce. They stopped looking for jobs. They’re not counted by the government but should be,” added Sloan.

Adding those workers back into the Bureau of Labor Statistics’ equation would raise “official” unemployment by 4.3 percent. It would also raise the real unemployment rate significantly.

“We need to stop lying to ourselves,” said Sloan. “The jobs crisis isn’t getting better; it’s getting worse. And we cannot solve this crisis by minimizing its severity.”