There were a lot of numbers in the May jobs report. But don’t let the 217,000 job uptick distract you from the real state of the economy. There’s a reason that 54% percent of Americans think the economy is getting worse. Here are a few numbers that paint a better picture:
-There are still 9.8 million unemployed Americans. That includes 3.4 million Americans who have been unemployed for over 27 weeks, and 7.3 Americans stuck in part-time jobs, unable to find full-time work.
-There are 1.6 million fewer manufacturing jobs – an industry that provides strong, consistent good-paying jobs. More than 40% of the jobs created in the past year are from low-paying fields like temporary help.
-In order to just catch up to an average recovery we will have to add 371,000 private sector jobs each month from now until the end of President Obama’s term – and that’s just for an average recovery.
-The unemployment rate has stayed the same – at 6.3%. Yet most experts say the amount of unemployed Americans has actually increased - more people are just giving up on their job search.
-Youth unemployment is the most dismal. For Americans age 18-34, the unemployment rate is almost double the national average.
House Republicans are not sidetracked by one set of headline-making jobs numbers. Instead, we remain dedicated to passing solutions that will put more Americans back to work. Solutions like reducing red tape for small businesses, improving access to education and training, and expanding markets for manufacturers and American businesses.
We have a plan – a plan that will address the real numbers and real issues of this stagnant economy.