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Real Rate of Unemployment at 16.5%

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Bureau of Labor Statistics (BLS) released the officially measured unemployment showing that 14.7 million people are unemployed at a rate of 9.5%, yet the "Real Rate" is 16.5 percent. Nonfarm payroll employment continued its decline loosing 467,000 jobs in June. The data show that of the 14.7 million unemployed, the rate for white was 8.7%, women 7.6%, youth 24.0%, African-American 14.7%, African-American youth 37.9%

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