From the Washington Times:
President Obama’s nominee to run the Labor Department on Thursday acknowledged the administration has “understated” the nation’s unemployment rate in his Senate confirmation hearing.
The Obama administration has touted more jobs and a declining unemployment rate that shrunk to 7.6 percent in March, according to the Bureau of Labor Statistics.
But considering the unemployed workers who have stopped looking for jobs and those who have accepted part-time work when they wanted full-time work, the rate jumps to 13.8 percent, said Tom Perez, the former Maryland labor secretary tapped by President Obama to run the U.S. Labor Department.
“In that sense, it understates the unemployment rate,” Mr. Perez said at the hearing.
Sen. Bernie Sanders called this rate “horrendous.”