I keep seeing all these interviews with Bush Administration officials who are talking about how well the economy is doing, how we are in a growth period, how jobs are taking off, and how much better off we all are today than we were four years ago. Well, the Economic Policy Institute's JobWatch released new data on July 2 that doesn't reflect the postulated trends that the Bush groups are talking about. The unemployment rate does appear to be steady (at about 5.6%), but the underemployment rate--"in the form of involuntary part-time work, discouraged workers, and other marginally attached workers (i.e., those who have looked for work in the last year but are not counted as unemployed)"--is higher now than when the recession began (currently 9.6% versus 7.3% in March 2001). I think the economic recovery is not as rosy as Bush would have us believe.
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