Skip to comments.2/13/12: Gallup now shows unemployment rate back up to 9% and underemployment at 19.2%
Posted on 02/14/2012 1:45:54 AM PST by DestroyLiberalism
Here's something the left-wing Obama-worshiping media doesn't want anyone to know about... Gallup daily polling had the national unemployment rate at 8.2% just one month ago back on January 13 and has since soared back up as high as 9.1% for the survey period ending Sunday, February 12. It's now at 9.0% on the most recent survey (Monday, February 13). Even though Gallup doesn't account for "seasonal adjustments" like the U.S. Bureau of Labor Statistics does, history has shown that the monthly U.S. jobs report generally tends to move in the same direction as the Gallup survey. So is this a sign of more ominous unemployment numbers in the months ahead?
As posted on its website: "Gallup tracks daily the percentage of U.S. adults in the workforce, ages 18 and older, who are underemployed, unemployed, and employed full-time for an employer, without seasonal adjustment. "Underemployed" respondents are employed part time, but want to work full time, or they are unemployed. "Unemployed" respondents are those within the underemployed group who are not employed, even for one hour a week, but are available and looking for work. Respondents "Employed Full Time for an Employer" are those who are employed by an employer for at least 30 hours per week. Daily results reflect 30-day rolling averages based on telephone interviews with approximately 30,000 adults. Because results are not seasonally adjusted, they are not directly comparable to numbers reported by the U.S. Bureau of Labor Statistics, which are based on workers 16 and older. Margin of error is ± 1 percentage point."
(Excerpt) Read more at gallup.com ...
By the way, this past Sunday was the first time the unemployment rate has reached 9% on the Gallup Daily survey in four months (September 13, 2011).
Oops. Correction... in FIVE months. (I’m typing this late!)
In that case, Gallup will be shut down in 5..4..3..2..
Let's not panic, there is NO NEED for that. Just have to increase the number of job seekers leaving the work force... Problem Solved!!
I don't believe that economic 'stimuli' really works, but I thought that by the time the Obamoids had pumped a couple of trillion dollars into the economy, unemployment and economic growth could not but HELP to improve. If they had spent the money on nothing but the manufacture of Hula-hoops, the economy should have been robust, in the short term, at least. One trillion borrowed dollars represents nearly 7% of the economy. My fear was that the economy would show marked growth, the media would proclaim Obama an economic genius, and four more years would be a slam dunk. But they are struggling to get, what, 1.5, maybe 2% out of their 7% 'investment'. Why? Because they devoted so much to restocking underfunded public pension plans that only serve to bail out politicians who had promised more than they could deliver. Or funding green energy. Or bailing out auto companies who had been rendered moribund by their labor unions (and the unions emerge unscathed). In short, Obama couldn't even do stimulus right. In the words of my former co-workers in the construction industry (who always had a colorful turn of a phrase), Obama could f*ck up a free lunch.
Obama's economic policies, apart from stimulus, are decidedly, anti-business, anti-capitalist, anti-profit, and anti-productivity. This really isn't opinion, it is fact. His policies virtually guarantee that the cost of doing business will be higher. Energy, taxes, labor costs, benefits costs, environmental considerations... on and on. How any serious comentator can say otherwise is just a mystery to me. And if business is so burdened, how they expect the economy to grow is beyond me. (And this growing 'from the bottom up'nonsense is so absurd that I would be stunned if the brain-dead among us really believed it), yet our loyal commentators in the media breathlessly comb through the economic new for signs of green shoots. I mean, who cares if first time claims for unemployment benefits drops from 360,000 to 358,000? Overall, the economy remains in the tank. The bottom line is this: you can't promote 'economic justice' and achieve economic growth at the same time. Just ask Greece.
Absolutely correct. But they didn't, they funneled the money through inefficient government bureaucracies, banks that didn't want it, bail-outs and green gambles-in short, the most inefficient allocations possible. The hope was for a "trickle-down" effect as teachers and police and social workers "spent" the money.
But the recipients all knew the prop-up was temporary, so spending is not what ensued. They'd have been idiots to spend it.
Isn't it ironic that the left therein embraced "trickle-down"?
It seems it’s taking about 2 weeks to find out whatever this administration says is going on is a lie. I feel for people and businesses who have to rely on government statitics from this administration to make a business decision.
During the past year, Gallup and U.S. BLS numbers trended downward, but inot always in tandem. But, most of the decline was due to a fall in labor force participation, not because of job growth. One of the tough things about getting the unemployment rate to fall to a normal range of 4 to 6 percent is that people who have dropped out of the labor force start, again, to look for work. Perhaps this uptick in the Gallup unemployment rate is due to increased labor force participation in light of some encouraging news about the economy. As of right now, Obama looks like a one-term president. A strong pick-up in the economy would enable him to come-back the way Harry Truman did in ‘48 and Gerald Ford almost did in ‘76.
Unemployment numbers back up to 9.1% how unexpected
You say that like those effects are unintentional. The motivating goal of leftism is to reduce painful feelings of envy, and Barky has delivered. As the election approaches look for the MSM to trumpet how Americans are now spending more time enjoying arts and culture, gardening, reading books, sightseeing, and visiting friends and family. Because envious statements draw shame it is unspoken, but more importantly Americans are producing less wealth and not making their neighbors so envious.
Leftists have correctly figured out that they are on the left side of the bell curve of their domain and can't compete. The nature of man is to want to win and not be a parasite, but they can't. Rather than flattening the bell curve, a better solution is to create insulated sub-economies, where trade is restricted between groups. That way left-siders can assume more respectable importance in their communities. In the past, nations have served this purpose, grouping like people of like culture and abilities together. This is a better way to address the problem of envy.
Since when does Gallup keep track of employment rates. What does the Department of Labor say?
It's a double blow to the economy. The Obama regime taxes hard earned tax dollars, representing productive effort, and channels them into non-viable companies; destroying the wealth. True anti-capitalism.
“HELLO MSM ARE YOU THERE? HELLO HELLO”
Yesterday, Obama claimed he created 3.7 MILLION jobs, yet total payrolls have DROPPED by 2 million.
Nobody but FOX called him out on it, and NBC Nightly News was cheering the “Recovery which is well on it’s way.”
In the Orwellian media world we now live in, the TRUTH no longer matters, just the narrative. Hopey, Changey, and all that.
file this under the very thick file of:
“NEWS YOU WON’T BE SEEING ON MSNBC/CBS/ABC/NBC/NPR/WashPost/NYTimes”
Where are the HEADLINES???
If he did it "right" it would interfere with his ultimate goal: the destruction of eeevil capitalism.
“Where are the HEADLINES???”
I just checked some of the Mainstream media online outlets and the only thing there are the SOUNDS OF SILENCE.
Of course, when the BLS comes out with their seasonally adjusted figure, there will likely be another million or so workers having “left the labor force” in the preceding month keeping the “official” unemployment rate down.
Time to lop another couple million off the labor force.
One wonders if the Stupid Party will even have an ad talking to voters about this outrage? And rising gas pump prices? And more failed green baloney companies? And a phony budget with more taxes, regs, and spending ??? We await that too.
All businesses should lay off 3/4 of their workers just before start of 4th quarter and hire them back when Obama is gone.