W.H. Blames ‘Unnecessary Austerity’ for 10.8% ‘Real Unemployment Rate’

‘We’re trying to tackle that by investing in structure, by relieving the sequester to make sure we don’t go back to unnecessary austerity or the types of fiscal brinksmanship that held the economy back a few years ago’

RUSH TRANSCRIPT:
DIAZ-BALART: "Real unemployment rate, something called the real unemployment rate is actually pretty high, that includes the people who have given up their job search or settled for part time work. That's 10.8%. How will that be tackled?" 
FURMAN: "We're trying to tackle that by investing in structure, by relieving the sequester to make sure we don't go back to unnecessary austerity or the types of fiscal brinksmanship that held the economy back a few years ago. But the other thing I would point out is we've made a lot of progress. That measure of unemployment you're talking about, the broader measure has fallen faster than the official unemployment rate over the last year as all the jobs we're creating are full-time jobs. As measures like long-term unemployment are coming down fast every. So we really are seeing a broad-based healing in the labor market. We're not all the way there yet but we're getting closer."

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