Rep. Duncan Hunter, R-Calif., wants Americans to know what the real unemployment rate is, not the figure that the Bureau of Labor calls unemployment which excludes those who have given up hope and are no longer seeking employment.
Rep. Hunter says his one-page bill, the “REAL Unemployment Calculation Act” (H.R. 4128), is not an effort to make President Barack Obama look bad, but rather to shoot straight with the American people:
“If a Republican gets elected this year and gets sworn in next year this will be their unemployment figure too. So you have to have truth no matter who it hurts or who it actually affects. You have to have the actual truth, that’s what we need here – truth to power. And that’s how things start getting fixed,” Hunter said on Fox News.
The Bureau of Labor Statistics calculates the current unemployment rate at 8.2 percent. If Rep. Hunter’s bill were to become law, the current unemployment rate would be 9.6 percent.
Presently, the government already calculates both figures, but reports the so-called U-3 rate as the nation’s official unemployment figure. Rep. Hunter’s proposal would report the U-5 rate as the nation’s unemployment rate.
The U-5 stat measures, “total unemployed, plus discouraged workers, plus all other persons marginally attached to the labor force, as a percent of the civilian labor force plus all persons marginally attached to the labor force,” while the U-3 stat or the “official unemployment rate,” measures, “total unemployed, as a percent of the civilian labor force.”
Read more at Breitbart.com.