'Thank' the statists: 1 in 4 Americans are jobless or earning poverty-level wages, new study finds

Official government figures show that unemployment around the U.S. has fallen sharply since peaking at nearly 15% in April as the coronavirus was shuttering businesses left and right. Yet the jobless rate as depicted in headlines offers a skewed picture of employment today, failing to capture the real financial pressure bearing down on millions of Americans, according to a new study.

In October, more than 1 in 4 workers were either unemployed or working for poverty-level wages, according to an analysis of government data from the Ludwig Institute for Shared Economic Prosperity (LISEP). By comparison, the October jobless rate stood at 6.9%, down from 14.7% in April as workers regained jobs or gave up searching for work.

Gene Ludwig, who heads the nonprofit think tank and is also founder and CEO of IBM's Promontory Financial Group, said he developed what he calls the "true rate of unemployment" to underscore economic ailments that aren't visible in official government statistics. His figure incorporates both jobless workers — people who were actively searching for work in the past month — as well as adults who are earning below $20,000 a year, or below the poverty line.

.https://www.cbsnews.com/news/jobless-americans-poverty-line-earnings/.
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Anarcho-Capitalist, AnCaps Forum, Ancapolis, OZschwitz Contraband
“The state calls its own violence law, but that of the individual, crime.”-- Max Stirner
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'Thank' the statists: 1 in 4 Americans are jobless or earning poverty-level wages, new study finds

'Thank' the statists: 1 in 4 Americans are jobless or earning poverty-level wages, new study finds

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