“Real unemployment in US is twice official figure”
“The official unemployment rate is 10 per cent, but that leaves out two groups of people – those who are underemployed, who are working part-time but would like to work full time, and also people who have given up working entirely and are not even searching for work anymore,” Lind said.
”When we add these two groups to the official rate, the actual rate of unemployment is close to 19 per cent, nearly one out of five Americans.”
Meanwhile, Barack Obama recently announced that there has been a slowdown in job losses in the US.
Speaking in Pennsylvania, the American President said that only 11,000 people lost their jobs in November, about 115,000 fewer than was forecast.
Still, Obama admitted the economy is in the midst of a "brutal recession" and the overall situation is tough.