Presidential races

Sanders lukewarm on jobs report

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Democratic presidential hopeful Bernie Sanders on Friday said January’s jobs report, which shows the unemployment rate dropping below 5 percent for the first time in nearly eight years, does not capture the complete picture on the health of the American economy.

{mosads}Although he stressed that significant progress has been made since the financial crisis, Sanders said the “real” joblessness rate is closer to 10 percent when those who have given up looking for work are factored into the equation. 

“There’s another government statistic that comes out at the same time that does not often get reported, which looks at unemployment not only for those who don’t have jobs, but those who are working part-time when they want to work full-time,” Sanders said at an event in Manchester, N.H.

“And that’s a lot of people in this country. And those people in high unemployment areas who have given up looking for work,” he added. “When you add all that together, you’ve got 9.9 percent unemployment, which is a serious problem.”

The Vermont senator also chided Republicans for their bleak response to the jobs report, saying they lacked perspective during a time of recovery.

“Well, today I think, unless you are very, very partisan — and it does astound me how some of my Republican colleagues can go around talking about the problems we have, and of course we do have economic problems today, ignoring where we came from in the last seven years,” he said.

“When President [George W.] Bush left office, we were losing 800,000 jobs a month,” he added. “That’s seven years ago, 800,000 jobs a month. An astronomical number.”

The jobs report released on Friday showed 151,000 jobs had been created in the month of January, underperforming expectations from economists of a surge between 185,000 and 200,000 new jobs.

Tags Bernie Sanders Democratic primary economy Jobs report Unemployment
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