Jobs Crisis

While the unemployment rate remained unchanged at 7.6 percent for June, the underemployment rate or “real unemployment,” which includes people who are working part-time because they can’t find a full-time job spiked from 13.8 to 14.3 percent.

While it is good news that employers added 195,000 jobs last month, Sen. Bernie Sanders remains concerned about high unemployment and increasing economic inequality, especially among young people and minorities. “It is absolutely imperative that we create millions of decent-paying jobs in our country,” Sanders said. “In the midst of this slow recovery, we must not accept a ‘new normal.’”

Millions have been out of work for more than six months. In June, the Labor Department reported the number of long-term unemployed, those jobless for 27 weeks or more, was essentially unchanged at 4.3 million.

Wall Street, however, has recovered from its collapse in 2008. Between 2009 and 2011, all of the new wealth generated in the United States went to the top 7 percent of American households, while the bottom 93 percent saw a net reduction in wealth.

“We must not be content with an economic reality in which the middle class of this country continues to disappear, poverty is near an all-time high and the gap between the very rich and everyone else grows wider and wider,” Sanders said.

Jobs Crisis