Skip to comments.Gallup Reports Large Jump in Unemployment to 9.1%, Underemployment to 19.1%
Posted on 03/09/2012 6:05:44 AM PST by Kaslin
In tomorrow's BLS payroll report, economists forecast an increase of 225,000 private jobs and total non-farm payrolls growth of 210,000. ADP expects 216,000 private jobs. I will take the under.
Meanwhile Gallup reports U.S. Unemployment Up in February
U.S. unemployment, as measured by Gallup without seasonal adjustment, increased to 9.1% in February from 8.6% in January and 8.5% in December.
The 0.5-percentage-point increase in February compared with January is the largest such month-to-month change Gallup has recorded in its not-seasonally adjusted measure since December 2010, when the rate rose 0.8 points to 9.6% from 8.8% in November. A year ago, Gallup recorded a February increase of 0.4 percentage points, to 10.3% from 9.9% in January 2011.
In addition to the 9.1% of U.S. workers who are unemployed, 10.0% are working part time but want full-time work. This percentage is similar to the 10.1% in January, but is higher than the 9.6% of February 2011.
As a result, Gallup's U.S. underemployment measure, which combines the percentage of workers who are unemployed and the percentage working part time but wanting full-time work, increased to 19.1% in February from 18.7% in January. This is an improvement from the 19.9% of February 2011.
Looking Ahead to the Government's Unemployment Report
Last February, the U.S. Bureau of Labor Statistics applied a seasonal adjustment factor of 0.5 points to its unadjusted unemployment rate for the month. If that same seasonal adjustment is applied to Gallup's mid-month unemployment rate of 9.0%, it would produce a seasonally adjusted unemployment rate of 8.5%. Alternatively, if it was applied to Gallup's full-month unemployment rate of 9.1%, it would produce a seasonally adjusted rate of 8.6%. Gallup therefore forecasts an increase in the unemployment rate.Unemployment Rate Not Seasonally Adjusted
Except for the years 2008-2009, and recessions in general, seasonally unadjusted unemployment rate tends to peak in January. Thus it will be interesting to watch Gallup's numbers for the next few months to see if there is a definite change in trend.
There is no ‘recovery’. Look for this unemployment news to be buried under news concerning the solar storm.
Interesting contrast with the BLS stats.
Of course we all knew when the Chicago mob got to the WH they weren’t going to turn into choir boys.
And the Bureau of Labor Statistics is telling us that the rate is 8.3%, unchanged.
Unemployment was flat it remained at 8.3% by any means necessary. Gallup is wrong (again) maybe they can borrow some of that Obama secret seasoning (seasonal adjustments).
Well! I’m confused. I just watched Fox and they were giddy over the fact that the report they had was that it was at 8.3%.
What am I to believe? Common sense and reports from credible sources or the Obama propaganda?
I’m just so confused that I just might mistakenly vote for Romney and put my faith in the establishment Republicans to represent us THIS TIME. They never have before.
Fool me once...shame on you; fool me twice...shame on me.
Not 15 minutes ago, ABC said that the Labor Department is upbeat as the recovery is in its beginning stages! And did you know that the unemployment rate can actually “bump” up during a recovery because ‘more people are looking for work’?
As they say: Nothing to see here...move along
Until I see a line of folks wanting to buy our underwater house at least anywhere near the price for which we purchased it, I refuse to believe any of this propoganda chit.
Want to know what we hear now when we put out ads? Here it is:
Isn't a that great?!?
At this torrid pace, "underemployment" should be back down around 10% in only 2030!
The kicker, of course, is that Europe is about to come apart at the seams, which will seriously tank the US economy - and it is already in deep trouble.
Bad news for the un and under employed. But, good news politically. Maybe the American public needs to feel a little more pain before November 6, 2012 in order to NOT elect Obozo again. I’ll pay $10.00 per gallon for gas to get him out of the White House.
“Not 15 minutes ago, ABC said that the Labor Department is upbeat as the recovery is in its beginning stages!”
Here we go again. Remember ‘Recovery Summer’? Yet another fabrication and economic propaganda from the administration that was eagerly trumpeted by its allies in the corrupt MSM.
“...ABC said that the Labor Department is upbeat as the recovery is in its beginning stages!”
Go back to last March and see the cheerleading that the msm and the White House was doing because employment was rising by 300,000+ every month. It stopped abruptly in May and never recovered.
With gas prices much higher than last year, there is no way they can put lipstick on this pig of an economy. There will be a severe pull-back in consumer spending, and it will be harder and harder for the msm to find gold nuggets in the pony poo. Their credibility is already shot.
If you take the BLS U-6 number which includes under employed, and add back those not in the civilian labor force who want a job, you come close to Gallup’s 19.1% unemployment number.
Forgot to post, used not seasonally adjusted numbers.
This is Obama’s Hope & Change!
Hope - to take over every aspect of our lives and all the charities as well.
Change - to rewrite the US Constitution so as to give him more authority over the other two branches of government.
I hope Mr. Newt will point this out this week, as to the utter dishonesty of the current regime. What do we expect from the pond scum touting president?