is underemployed versus the total who are unemployed. look at that. one more thing that i want to share with you which is the people working part time for economic reasons. they want full-time jobs. they can't get them. even though the job market is doing a little bit better than we had expecked. rsh how many more months do we need to see before we hit the fed threshold of a lot depends that it's a whole other nerd alert which is the number of jobs that we need to bring down the rate. >> and how many babies people are having and immigration. >> and how many people count themselves and retirement, people leaving the work force. that would bring down the unemployment rate. we know enough to say that it's going to be at least five to seven years if we did. >> what the fed is hoping for is a place where the job market takes off. 250, 300. >> we can talk taper all we like but we need to hit that threshold. >> the job market is taking off in canada. >> those numbers are up and down like this. >> canadians are up and down like that. up next, ex

they're either unemployed or underemployed coping with staggering wages and a higher cost of living. the recovery arrive on main street or is this sichl low the new normal? let's get answers from dan gross. he's global business editor at "news week daily beast" who may be taking this cycle ing too literally. i like it, though. >> i saved you guys a hundred bouks the car service so i expect to get a little of that back. >> thank you. i appreciate that. >> well, i want to start with that question of is this the new normal and one of the stats that i think is really important to remember here is that a majority of the jobs that were lost during the recession were middle income jobs and a majority of the jobs that had been gained in the recovery have been low-income jobs and we do not have the economy now that we had pre-recession. are we going to give back to that economy or are we going to see income and equality and the growing state grow and grow. >> it will take a long time because we have very slow job growth and when there are slow job growth you don't tend to get a lot of races.

we do know that 53% of recent college graduates are eher underemployed or unemployed.o things are looking a ttle bleak for some of these college graduates. as e. mack suggested, if you dig a little deeper, those college graduates are accounting degrees, computer science deg e degrees, they are doing better an those of us like myself. in the end, we need skills, not just the ability to write a good say. >> johohn, the fact ishat most college students don't graduate with a degree with computer engineering. many of them graduate with degrees wh kind of neigible value. >> they do, but college education never offered anythng of real-world economic value, but it offers something differen we get away, we grow up, we make friends and contacts. andn a good economy, it helps us get a job. the's a reason that tuition continues to ris parents and kidsee there's a real value to having a degree by your name. i think we've got to recognize it's not the education. we get something entirely different of vlue from going to college. >> mike, there's another reason why collegeuition is go

a chart steve showed that showed the underemployed. you have the unemployed but the underemployed.ut 14%. >> about 14% are unemployed or underemployed. >> that is the tough slog we are talking about here which is why, in fact, one of the subjects of the conference you were a part of yesterday and what you are doing here with your company deloitte's annual day of service has to be a huge facet of the future that we step into because people are looking for different ways to feel connected and be involved and be active and there is a big need out there. >> 14th impact day we basically take the celebration of year of voluntarism and today every employee in our firm is out in the community tricket essentially up the skill in the not for profit and fill the skills gaps and essentially what impact day is back. >> joe, thank you so much everything yesterday and thank you for being on the show and look forward to working with you in the future. >> always. thank you. >>> coming up, you probably wouldn't have guessed it a few years ago but somehow cat videos have become some of the most popul

. >> reporter: four years, with part-time jobs, underemployed, settling for less. tonight with a different story. >> made in america! >> great to see those smiles. a bit of a race on tonight. apple telling us the macs will be on the assembly line in texas later this year. the google glasses by the end of the year as well. and the lenovo computers already coming down the assembly line. and the ceo of lenovo, still based in beijing, but we're told he has a house in raleigh now, and he's learning english here in america with his american computers. >> this is great. thank you, david. >>> now a mysterious turn tonight for the daughter of michael jackson. 15-year-old paris jackson was rushed to the hospital early this morning. the family released a statement, suggesting that life has been difficult for her, and abc's david wright has that story. >> hello face that rarely ever is seen in public without makeup. >> reporter: just 24 hours after this video was posted offering makeup and skin care tips to her fans. 15-year-old paris jackson was being rushed to the hospital b

a struggle to neha delaney graduated from the university of virginia two years ago now she is underemployed working part time in a coffee shop to pay off her student loans i think it will take years to pay off probably. i'll be in my forty's before finish paying them off and once i get a high paying job really soon then it wouldn't be an issue saving money is not an option for her i mean i live at home which is very nice. forseeable future it doesn't seem like you know paying rent on an apartment is really an option for me a long lasting burden of loan payments means that young adults can't buy a car or purchase a house this doesn't just hold back use the entire middle class and the drivers of economic growth and new jobs in washington just seen under him are two. things just in the senate has not scheduled a vote on student loans before the july first deadline this means raids on a new wall and that will double on monday today democrats announced that a vote on a one year extension of current rates will take place on july tenth and they could rush or actively lower rates after the hike nex

a struggle to neha delaney graduated from the university of virginia two years ago now she is underemployed working part time in a coffee shop to pay off her student loans i think it will take years to pay off probably. i'll be in my forty's before finish paying them off and once i get a high paying job really soon then it wouldn't be an issue of saving money is not an option for her i mean i live at home which is very nice of forseeable future it doesn't seem like you know paying rent on an apartment is really an option for me the long lasting burden of long payments means that young adults can't buy a car or purchase a house this doesn't just hold back use the entire middle class and the drivers of economic growth and new jobs in washington just seen underhill part too. thanks just stand the senate has not scheduled a vote on student loans before the july first deadline this mean rates a new wall and that will double on monday today democrats announced that a vote on a one year extension of current rates will take place on july tenth and they could rush or actively lower rates after the h

and the rest are unemployed or underemployed. and at $31.50 a week, a benefit that the other side of the aisle wants to cut, many of these people now can't make it through the month. this is a pretty paltry stuff if you look at it. and you think about doing this week in week out. most people in oregon, you know, and oregon is a lower cost state than many for food, run out sometime in the third week of their benefits and they have to go and get emergency food assistance. our food banks provided one million boxes of emergency food assistance last year. yet, those on that side of the aisle would begrudge these people, these children, these seniors, these disabled an adequate budget, you know, for a very, very minimal diet. you know, it's extraordinary to me. my state, and most people don't think of us this way, we are the fourth highest per capita in terms of food stamp utilization. fourth highest per capita because outside our major urban areas the economy has not recovered from the collapse that wall street caused in housing and o

there are still millions of americans who are unemployed or underemployed. >> let's transition to thet one and hear some political red meat and that is the irs scandal involving those employees in cincinnati. are we and is the left not outraged enough about this? >> i think the left has not been as con sis tently outraged as they should be. this is one entity that can compel americans without very little recourse to fall under their will. now people are targeted for being pro-israel? that is outrageous. everybody should be outraged by this instrugs. >> there is a long pattern at the irs. a decade ago, so you're not going to get any argument with me of the principle that the irs should be non-political in every president. its application and enforcement. it happens that this time, that you see some conservative interests having the same time of us had. i think. to determine if this was being undertaken by rogue employees of the irs. >> where i come at this and make it quick is it's a legitimate task of the irs to look at applications but what is student is to stargt groups based on the

we are watching other numbers, including those that are underemployed. average long-term unemployment is over 36 weeks. what does that tell you? guest: we are improving. the unemployment rate peaked at 10%. that is improvement but it is well away from a good economy. i mentioned five and have been to benchmark. we have mentioned in other statistics that are important for the labor market, how many people are unemployed, that is still very high. weak, barelys very keeping pace with inflation. the other statistic you mentioned is the number of people who are unemployed for a lengthy period. economy is better and the job market is better. we have come a long way from where we were five years ago but we have a long way to get out of this whole. host: if you like to talk with the chief economist at moody analytics, here are the numbers -- and let's talk about housing for a moment before we go to the phones, we're seeing this headline -- mortgage rates have risen but they are still low compared flee. are we facing in a potential double. a the-- are we facing o

is at less than 1%. 25 million people unemployed and underemployed. we are working with the policies of the democratic party that are bankrupting this country. there are people who are hurting. there are people who need jobs, who need food, need to take care of their families, need to take care of paying their student loans. this house of representatives is on the mark of saying how we should solve each and every one of these problems. they essentially go back to when republicans had control of the house of representatives, the united states senate and the presidency where 60 straight months there was sustained, ongoing economic growth. oh, my gosh, that was under george bush. well, that's right. president bush and republicans helped this country to achife a doubling of g.d.p. -- achieving a doubling of g.d.p., of moving our country forward, but there's also another model of success out there and it was called president clinton who came and worked with the house of representatives, who took republican ideas, who took the ideas which we put and merged

some estimates, 90% people with serious mental illness, unemployed or underemployed. we need to break the prozac ceiling. we have it backwards when it comes to psychiatric disabilities, we don't have to become less symptomatic before returning to work, work reduces our symptoms. in fact, i have heard it said that empowerment is described as a, quote, decent paycheck at the end of the week. to be well we also have to nurture our spirits. recovery for me as the faith based practice. many of us acknowledge spirituality playing a key part of our recovery. i see it as recovery as faith in the human spirit to overcome incredible circumstance. sometimes when we feel connected to something larger than ourselves it enhances our physical and mental health, some people find this in nature. a recent nimh study found a walk in the woods is as effective as an antidepressant. i was at a meeting a couple months ago and said when am i going to get my prescription for a walk in the woods along with my anti-depressants? i encourage you to take one step of wellness today over the last fi

they still don't have jobs or are underemployed. here in illinois, we have a 9.1 employment rate. we have the worst credit rating in the entire country. things like that, the retirement, what's coming down the pike for obama care, those are the types of concerns for them. on a daily base, what's going on with the market doesn't factor into their decision making. a little bit of a pullback actually would be very good for them because many of them haven't gotten back in the market yet and we need more of them to participate. i'm actually okay with this. >> when they call on stocks -- sometimes when i'm doing radio, i read the call numbers out and i say, go ahead, talk to me about so-and-so, go ahead, beat me up because i'm in favor of immigration reform or tell me how negative you are on the stock market because usually i'm optimistic. so when they do talk about it, what do they say? optimism, pessimism? >> there's a lot of confusion and there's a feeling of a disconnect between what's going on on wall street and on main street. even with the pullback now, the markets are up huge. 1

most people say use of many and not all and very few are saying i'm really underemployed which is real of the key things. i didn't believe the numbers, but we did ask a lot of corroborating questions and it does seem -- oh, and by the way. i went back to 1978. i looked at polling, six different polls between now and 1978. >> yeah. i was 24 then. >> they all corroborate that. what's interesting about that, 1978 is the year after johnny paycheck made "take this job and shove it" famous. didn't write the song but made it famous. 85%, 86% saying they were satisfied with their work. >> fascinating. >> my pleasure. >> 50 plus people are satisfied because we're employed. >> that's probably a part of it. >> happy to be employed, and they seem -- different aspects of the jobs they like. >> count me in on that one. >> sue? >> thanks, guys. coming up, the biggest retirement package in u.s. corporate history, $159 million. excessive or just a fair pew pay for a ceo who tripled sales and sent the stock soaring. we'll talk about that and russia seems to be hiding an american leaker and china is hold

these are the workers uttermost underinsured, underemployed, work in some of the most dangerous situationsey don't have unions. the question is, is our society so an art, is our society so surrendering of any kind of civic sovereignty that we cannot get a minimum wage equal to 1968? is supported, by the way, of 7% of the people, including rick santorum rid -- it is supported, by the way, by 7% of the people, including rick santorum and until last year, mitt romney. the democrats are sitting on inadequate bills in the house and senate and not really pushing the republicans. here is what we're trying to do. august is the big recess for the members of congress go back home. we want people to get 300-400 signatures of the people back, summoning congress people and the senators to exclusive town meetings in each district, and those of you who are watching or listening to this program and want to show how to turn this around -- it is a great economic stimulus, by the way, to give people who desperately need necessities of life more money -- if you want to take 30 million people up to $10.50 an h

what are the benefits we're talking about for these people, many of who are out of work or underemployed down to about $15 a week on average for a family of three. $15 a day, i should say. that comes down to $5 a person. i mentioned all the numbers because if you look at that and you look at what was on the table, it's hard to understand why about half of the spending cuts should go against those people unless it's cynical because those people don't have a lot of power. and so when i look at the house republican caucus, i understand the desire to cut spending. we've talked a lot about that, at least since obama's been president. they didn't talk as much about it when they had their party in the white house. but we could have a debate about cutting spending. if cutting spending doesn't mean being a compassionate hawk. obviously, you have to vote it down. john boehner's back there. he's not good at his job. he's not good at satisfying the most uncompassionate about in his caucus, so i'm glad he lost. i hope they learned something from this. it's ultimately about the effect on people in the

of americans with eight million people, nearly eight million unemployed, another eight million underemployedgling to survive. the day to day things americans have to be involved in to make a living on what i could think was most people to focus on when they see things in washington look like they're getting unhinged whether it is the irs or the government going after reporters or the benghazi incident, people then start to wonder what is government all about? connell: to hone in on one of those, more general discussion in the news today you mentioned susan rice at the center of that and the sunday talk shows afterwards became a controversial figure as a result of the appointed as president's national security adviser. does that make you more optimistic or pessimistic? >> for me it doesn't register either way. it has to be said first of all that there is no question susan rice is qualified for the position of national security adviser. she is one of the key obama advisers. she is qualified, was qualified to be at the un and it bears looking into our in the world she was put out front by the a

millions of our fellow citizens remain unemployed and underemployed. mr. hensarling: it's why house republicans are working to make the tax code fairer, flatter, simpler, more competitive, so america can go back to work, but so far we're hearing silence from the white house. we want red tape reform that is strangling small business people. madam speaker, i had one small business person in my district say, you know, it's like the federal government doesn't want me to succeed. we need to unchain them. we need to cut the red tape and allow them to create jobs and finally the affordable care act is not affordable for our american citizens. it is not affordable to small businesses, it is harming job creation, costing trillions of dollars, potentially millions of jobs, plups want to repeal it. this is an agenda to help create jobs for america when americans need growth, hope, and opportunity. i yield back. the speaker pro tempore: the gentleman yields back. for what purpose does the gentlelady from north carolina rise? ms. foxx: i ask unanimous consent to addres

you know, the same underemployed, overburdened ones with all those student loans, they're also takinggetting stuck deeper and deeper in debt. so it feels to me like, for me, the payday loans and those storefront loan sharks, basically, as soon as i see them in a community, i know, okay, we are in trouble here. that's when you know that there's not enough to make it from check to check. >> yes. and more and more people are falling into that trap. we sit here and we have a situation where, for want of $500 in savings, that should be available through the earned income tax credit or some other vehicle, but for one of $500 in savings, we end up in a trap, where you're repeating and repeating and repeating the l n loan. and up to 70% of the money they make on these loans is off of repeat flipped loans, where it's paycheck to paycheck. i take it out, i pay it off, i take it out, i pay it off. and that's how it works. >> we were looking, apparently, it typically costs about $430 to pay off the average storefront loan within two weeks. but the vast majority of people who are taking them out c

while millions more middle class men and women are unemployed or underemployed. mr. speaker, i strongly support a strong national defense but i also agree completely with my republican colleague, congressman mo brooks of alabama who recently said, and i quote, i don't believe that america can financially afford to be the police cop on every street corner in the world. we no longer have the financial resources to do that. fact, the $652 billion we spent on the military last year amounts to 57% of our discretionary budget. mind you, education is at 6%. agriculture at 1%. transportation at 2%. moreover, that $652 billion spent last year accounts for more than the next 10 largest military budgets in the world combined. china, russia, u.k., japan, france, saudi, india, germany, italy, brazil, we spent more than all of them combined. this $60 billion cut that's proposed in this amendment or a 9.4% cut that i proposed, is not an unreasonable amount. in fact, it is pactly the same amount the commission on wartime contracting estimates to have been wasted through fraud and ab

there are millions of americans that are underemployed and worked very hard. there will be demand for cars and homes. still buypeople would cell phones and spend money on things that we'll spend money on. if you move the minimum wage up the averageour, household would have more money to spend. a loan anddy to get by a house. you can still buy a cheap products coming in. connecticut. caller: good morning. there was a vote in the senate in october that was -- we pay manufacturerscan to go to china. there was a vote to cut debt and to pray for the companies to come back to america. that was quoted down by misconduct, and john mccain, the guys from alabama. the guy from alabama and i called about the job-seekers. maybe if they put a jobs bill out there and maybe work together to close the loophole that we paid for them to go to china. it is ridiculous. guest: i agree. supply sideaced economics as a country. our financial industry and some of that will lead to bo to bom. om. theas been a boon for wealthy but a bus for everybody else. we need a demand side investmen

the millenial generation, the earliest adopters and it's a phenomenal shift in behavior knowles underemployed generation in many generations so they're doing the math, they're very smart consumers. they're not nearly as brand associated as their previous generations. and they're much more open-mined to sharing business models, sharing business models, hack sirs versus ownership has become their mantra, whether it's addressed from the runway, car from zip car or a carom uber-or groupon, they're coming getting together. >> the coincidence of the spread of mobile technology and the recession, think, created a hay day for the sharing economy in a way that makes someone wonder whether the good times can keep rolling. so it makes sense for young people, who don't have much money to buy a car, to share a car, and makes sense for young people who want a ped -- pedicure but can't afford the full price, gift it from groupon but we have seen from groupon's experience in the last few years and the future, it's possible that a generation that gets more and more money might turn airplane from the sharing e

nearly 8% of americans are unemployed or underemployed and our immigration policy obviously must be a jobs policy. any successful immigration plan must take a closer look at the h-1b program which serves an important but specific and limited purpose. the h-1b visa was created so businesses, particularly in high tech but not exclusively that, so businesses could recruit foreign workers to help fill the void created by a lack of american workers with those specific skills. yet, this bill comes to the floor -- as this bill comes to the floor something very important was excluded. the bill lacks a requirement which was in earlier versions of the bill that employers hire an equally or better qualified american worker when one is available rather than a potential h-1b worker. i'll repeat that. the bill lacks a requirement that employers hire a qualified equally or better qualified american worker when one is available rather than a potential h-1b foreign worker. with this bill we're enshrining a process, without this amendment, at that allows companies to pass over skilled americans for for

consequences it can have on the millions of our fellow countrymen who are either unemployed or underemployed. the impact that it could have on the competitiveness of our u.s. employers and job creators. mr. speaker, i need not tell anyone in this body, that we are regrettably and continue to be in the middle of a nonrecovery recovery. if it wasn't for the fact that so many people have left the job force, the working participation rate, our unemployment rate would be even higher. many have just given up. we know that for many, even though america has in the past produced 3.5% economic growth and is probably cape of -- capable of 4%, 5% economic growth with the right economic policies, regrettably we find ourselves mired in 1.5% to 2% g.d.p. growth which means, mr. speaker, a lot of american dreams go unfulfilled and a lot of our constituents lay awake at night wondering how are they going to pay the bills? so, mr. speaker, jobs continue to be job number one, i believe, of the united states house of representatives. but regrettably, those who create jobs, those who employ our constituents are

too many western pennsylvanians are unemployed, underemployed, or have given up looking for work. just last week, we learned a pennsylvania coal company was forced to lay off over 100 miners and other employees. these hard working men and women are mothers and fathers, they have fallen victim to the stagnant economy and president obama's war on coal. while the rest of country is struggling, however, washington, d.c. is booming. in fact, the suburbs here surrounding our capitol include seven of the 10 richest counties in the country. it's easy for politicians and unelected federal employees to spend recklessly when they're safely ensconced here in washington. this bubble has left the rest of country mind. hardworking americans need washington to stop booming so the rest of the country has a chance to grow, possprer -- prosper and add jobs. i -- jobs. i yield back. the speaker pro tempore: for what purpose does the gentleman from california seek recognition? >> i ask unanimous consent to address the house for one minute and revise and extend my rashes. the speaker pro tempore: the g

there is 12 million people in the country but 8 million are underemployed.w dynamic here with the job market. >> alisyn: you don't think this is always graze is always greener syndrome? something has happened with workplace that is making employees less content. >> if you think about it, so many organizations have had to downsize, they asked the current employees to do more work. in many scenario for less money. employees are overworked. so they say maybe i don't feel appreciated by the employer or respected by the employer. it's not just that the grass is greener. but they want a company they can really be respected and admired for the work. that they do. >> alisyn: with the recession everybody felt more desperate. you don't want to leave your job. jobs arer hard to come by. >> it is hard to come by. but the job market is improving. monster.com has seen pickup in california, san francisco, l.a. they have seen new york. d.c. the jobs coming back are healthcare, "it," engineering. retail. a lot are coming back. >> alisyn: great fields to look at. coming up ne

they're underemployed, may be working part time in restaurants and other places. all of a sudden they'll be tkpwefpb legal status -- given legal status and be able to apply for any job in america. this will be good for them. but the question is is it our duty to give our first responsibility to those who entered illegally. and how about those unemployed today and looking for work. wages today have dropped as much as 8%, 9%. wages are declining, not going up in america today. one of the big reasons according to professor borjas at harvard is the flow of labor from abroad causes the market to decline. in addition to that we have our current law that allows workers to come, temporary workers, guest workers who come for a period of time and then they can work. so, what happens to that flow of workers today? well, they will double. the number of people that would be coming in to do temporary workers -- and you've got to understand, many for three years with their family. but re-up for another three years. they compete also for a limited number of jobs that legal immigr

are underemployed and barely getting by. i tried to ask this of most of the agencies before this committee, when the irs is looking at conferences or other ways to spend our money, does it consider the current suffering experienced by its fellow citizens? >> at this particular time, part of this conference about the, was individuals that were having difficulty with complying with requirements. that is why we brought our leadership together so we could that we havessage to understand the taxpayer's perspective. we have to stand in their shoes so we can better understand what they are experiencing when they're interacting with the irs. that is what it is. it is difficult with is coming to light, it does tie to what you are talking about. our agency is going through a time where we are furloughing individuals for five days and then you have this event come up and while you can use newses and say this was money, it is equally difficult to explain to our own workforce we are getting five days off being furloughed and not being pa

millions more are underemployed and barely getting by. i tried to ask this of most of the agencies before this committee, when the irs is looking at conferences or other ways to spend our money, does it consider the current suffering experienced by its fellow citizens? >> at this particular time, part of this conference initiative, was about the were havingthat difficulty with complying with their requirements. that is why we brought our leadership together so we could convey the message that we have to understand the taxpayer's perspective. shoese to stand in their so we can better understand what they are experiencing when they're interacting with the irs. that is what it is. it is difficult with is coming to light, it does tie to what you are talking about. our agency is going through a time where we are furloughing individuals for five days and then you have this event come up and while you can use excuses and say this was new money, it is equally difficult to our own workforce we are getting five days off being furloughed and not bei

we are watching other numbers, including those that are underemployed.the average long-term unemployment is over 36 weeks. what does that tell you? guest: we are improving. the unemployment rate peaked at 10%. that is improvement but it is well away from a good economy. i mentioned 5.5% being the benchmark. we have mentioned in other statistics that are important for the labor market, how many people are unemployed, that is still very high. wage growth is very weak, barely keeping pace with inflation. the other statistic you mentioned is the number of people who are unemployed for a lengthy period. the economy is better and the job market is better. we have come a long way from where we were five years ago but we have a long way to get out of this hole. host: if you like to talk with the chief economist at moody's analytics, here are the numbers let's talk about housing for a moment before we go to the phones, we're seeing this headline -- mortgage rates have risen but they are still low compared . are we facing in a potential bubble? guest: we have a lo