Residential wage employment continues to exceed pre-pandemic ranges
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WASHINGTON, June 17, 2021 – Extra American citizens are finding living wage jobs than before the pandemic, signaling an economic recovery underway, in response to an assessment by the method. Still, the percentage of “functionally unemployed” individuals continues to be alarmingly high and shows the need for continued policy efforts if restoration is to proceed, the LISEP president said.
LISEP's TRU tally – a measure of the “functional unemployed,” defined as the percentage of Americans who cannot find a full-time job that can pay above the federal poverty stage – is 23.7% for May Additional. Here is a 0.6 percentage point increase over the April rate of 23.1%, a change that may well be due in part to seasonal elements, in response to LISEP.
Ludwig notes that this is the third month in a row that TRU has remained below 25%, and is essentially 7% below the May 2020 price of 30.6%. The May 2021 price is also lower than the pre-pandemic expenditure of 24% published in February 2020.
This should be a clear signal to Congress to get an infrastructure kit delivered sooner rather than later to facilitate the advent of reliable, paying jobs.”
The TRU moved to virtually unchanged across all demographics, with a substantial final gap between black workers (28.4%) and white workers (21.8%). The rate for Hispanics has shown a slight improvement and is at 26.8%. A large gender gap remains, with women posting a TRU of 28.1%, versus 19.5% for men.
The Bureau of Labor information (BLS) declared an unemployment cost of 5.8% for May, a decline of 0.3 percentage points from April.
About TRULISEP published the white paper “Strong Measuring: Developing 'Real Unemployment Expenditure' Records as the Basis for Social and Economic Policy” following the affirmation of the new statistical measure in October. The document and methodology can be seen here. LISEP TRU considerations one to two weeks after the release of the BLS unemployment report, which occurs on the first Friday of each month. The TRU price and aid records can be found on the LISEP website at
About LISEPLISEP was created in 2019 by Ludwig and his wife, Dr. Carol Ludwig. LISEP's mission is to increase the financial well-being of grassroots American citizens and reduce wages through analytics and education, and seeks to strengthen communication around coverage options to improve the well-being of all Americans.
About Gene Ludwig In addition to his role as president of LISEP, Gene Ludwig is the founding father of the Promontory family of companies and Canapi LLC, a monetary technology mission fund. He is the CEO of Promontory MortgagePath, a technology-based mortgage solutions and fulfillment company, and president of the Promontory financial group. Ludwig is the former vice president and senior controlling officer of Bankers have trust new york Corp. and served as Comptroller of the U.S. Currency from 1993 to 1998. He is also the author of the e-book The Vanishing American Dream, which investigates the financial challenges dealing with low-profit, profit-centered Americans. It was released in September 2020 through Disruption Books
