The chairman of the venerable Gallup research and polling firm says the official U.S. unemployment rate is really an underestimation and a big lie" perpetuated by the White House, Wall Street and the media. What CEO and Chairman Jim Clifton revealed in his blog Tuesday about how the Labor Department arrives at the monthly unemployment rate is no secret -- including that Americans who have quit looking for work after four weeks are not included in the survey. The department's current rate of 5.6 percent unemployment is the lowest since June 2008, with President Obama using his State of the Union address and campaign-style stops across the country to tout an economic recovery. "There's no other way to say this," Clifton says. "The official unemployment rate amounts to a big lie." His arguments are similar to those made by Washington Republicans after the Bureau of Labor Statistics announced the rate each month during the height of the recession. However, Gallup is an 80-year-old, nonpartisan firm. Clifton suggests the biggest misconception about the official rate is that it doesn't denote "good" full-time jobs. "When the media, talking heads, the White House and Wall Street start reporting the truth -- the percent of Americans in good jobs; jobs that are full time and real -- then we will quit wondering why Americans aren't 'feeling' something that doesn't remotely reflect the reality in their lives. And we will also quit wondering what hollowed out the middle class," he said.
Latest
Latest News
Each news summary is created according to strict standards. Here's how we do it.
Each summary is created using a consistent editorial procedure. The target length is approximately 16 lines of 11-point Arial text in a 650-pixel-wide column. Up to 25% of a summary may be set in bold to emphasize the most important ideas. Summaries are composed of verbatim excerpts presented in the same sequence as they appear in the original news source, with very minor editorial additions. Where material has been omitted between excerpts, the omission is indicated with ellipses (...). Any words added by an editor for clarity or context appear in [brackets]. Our original news editor was Fred Burks. Tod Fletcher edited most summaries from 2007 through 2014, and Mark Bailey has served as news editor since 2014.