Stacy Brown/Black Press USA Senior National Correspondent at The Seattle Medium reports that despite Federal reports suggesting a stable labor market, new data from the Ludwig Institute for Shared Economic Prosperity (LISEP) reveals a far grimmer reality for American Workers -particularly Black and Hispanic Americans. The Institute’s April report on the True Rate of Unemployment (TRU) shows a functional Unemployment Rate of 24.3%, compared to the official Bureau of Labor Statistics (BLS) figure of 4.2%. The numbers mark the third consecutive month that functional unemployment has surpassed 24%, according to LISEP, which defines functional unemployment as the combined total of those without jobs, those unable to secure full-time employment, and those earning poverty-level wages - less than $20,000 per year adjusted for inflation. LISEP Chair Gene Ludwig said: “We are facing a job market where nearly one in four Workers are functionally unemployed and current trends show little sign of improvement. The harsh reality is that far too many Americans are still struggling to make ends meet.”

To Continue Reading This Labor News Report, Go To: True Unemployment Rate Soars Past 24% — Black Workers Hit Hardest - The Seattle Medium

Graphic Courtesy of scvnews.com