To: Oeconomicus who wrote (2172 ) 12/9/2003 9:32:17 PM From: American Spirit Respond to of 90947 Job Crisis in America America's workers today are facing the biggest job crisis in the United States since the Great Depression. The nation’s economy has shed 3.3 million private-sector jobs, approximately 106,000 per month, since President George W. Bush took office—the largest job loss since the administration of President Herbert Hoover. During the last full month before Bush took office in January 2001, the unemployment rate was 3.9 percent. In August 2003, the official U.S. unemployment rate rose to 6.1 percent— representing 8.9 million unemployed workers. August losses include 44,000 manufacturing jobs—bringing to 2.5 million the number of manufacturing jobs that have disappeared since January 2001. Some Americans were hit disproportionately hard: African Americans, for instance, suffered a 10.9 percent unemployment rate in August, according to the federal Bureau of Labor Statistics (BLS). The jobless rate for Latinos was 7.8 percent. What’s more, the 8.9 million officially unemployed represents only about 60 percent of all U.S. workers—5 million, according to the BLS—who are either unemployed, underemployed in part-time jobs out of economic necessity or who have become so discouraged that they have given up looking for work. The Bush recession since January 2001. Bush headed toward worst record for job growth in 58 years. The crisis in manufacturing: Lost jobs, June 1998-June 2003. Find out more about jobs, wages and the economy. The Bush Recession Since January 2001 The number of unemployed and underemployed has risen by 4.4 million, 42 percent, since the beginning of the Bush administration. Source: U.S. Department of Labor, Bureau of Labor Statistics. Marginally attached persons wanted and were available for work and had looked for work sometime in the past 12 months but are not counted as jobless and in the labor force because they have not searched recently. Bush Headed Toward Worst Record for Job Growth in 58 Years (Average Monthly Growth in Employment During Presidency) Figures updated by AFL-CIO using data from the U.S. Bureau of Labor Statistics. The Crisis in Manufacturing: Lost Jobs, June 1998-June 2003 Source: U.S. Bureau of Labor Statistics