year since we thought. the unemployment rate was 4.5% before this recession. we still have a lot of work to do. one big problem, many of the jobs coming back are low-wage jobs. largest gains in april were service jobs, retail trade, health care, leisure and hospitality. every job in america is important, but some of these jobs aren t the kinds of jobs you can send your kids to college on. the quality of the jobs we lost higher than the quality of jobs coming back. the real unemployment rate is 13.9%. that real unemployment rate, that represents the total unemployed but part-time workers that want to be working full time but can t find a full time position. the labor force participation rate, the lowest since 1979. mohammed al-arian is ceo of pimco. austin goldspeed, currently an economics professor at the
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a. real unemployment held at 13.9% in april. what is that number real unemployment? it represents the total unemployed and part-time workers who want to be full time and people not in the labor force but they desperately want a job. the 165,000 jobs added in april is nowhere near the 250,000 we need every month for a genuine recovery. president obama s campaign promise of creating 12 million jobs in four years, remember that promise, our economy simply isn t growing fast enough. there are some bright spots, home values are up, earlier this week the case shiller index showed home prices jumped 9.3% from a year ago, the stock market is pushing higher, friday
year than we initially thought. put that in perspective, the unemployment rate was 4.5% before this recession. we still have a lot of work to do. one big problem many of the jobs coming back are low-wage jobs. largest gains in april were service jobs, retail trade, health care, leisure and hospitality. i m telling you, every job in america is important but some of these jobs aren t the jobs you can send your kids to college on. the quality of the jobs we lost higher than the quality of jobs coming back and the real unemployment rate is 13.9%. that real unemployment rate that number represents the total unemployed plus part-time workers who want to be working full time but they can t find a full time position. in fact the labor department, the labor force participation rate right now the lowest since 1979. mohammed el erian, ceo of him co, and austan goolsbee, former chairman of the council of
before you go take the big exam. it doesn t make any sense. let s go back to christine. what are we hearing? futures moving higher. and retail hiring in there as well. i told you, a lot of those were service sector jobs. we want to be careful of the quality of shows jobs. average hourly earnings up. people getting more in the paycheck. something called the real unemployment rate, u-6 or real unemployment rate. 13.9%. people unemployed who would like to be working full time but working part time. that number slightly better, but you want to see that number is a real problem for the economy. and arguing about the politics, something that s interesting, for most people, you can t control the politics. are you a job market of one. and what is really clear, seven available workers for each available job. now three available workers for each available job.