Gallup’s tracking survey of the U.S. unemployment rate without seasonal adjustment has ticked upward in mid-November.
The October rate was 7 percent. The new rate released this morning by Gallup is 7.4 percent.
Seasonally adjusted unemployment is 7.9 percent, up from 7.4 percent in October.
These results are based on Gallup Daily tracking interviews, conducted by landline and cellphone with approximately 30,000 Americans from Oct. 14-Nov. 15 — 68.2 percent of whom are active in the workforce, according to the polling organization.
The underemployment rate has also jumped — as measured without seasonal adjustment, it’s 16.3 percent in mid-November, up from 15.9 percent in October.
The number of part-timers wanting full-time work was unchanged at 8.9 percent in mid-November.
“Gallup’s unemployment results for the 30 days ending on Nov. 15 suggest that the improvement in the U.S. unemployment situation found in October was short-lived,” stated Gallup’s chief economist Dennis Jacobe. “…At the same time, superstorm Sandy distorted weekly jobless claims, according to the U.S. Bureau of Labor Statistics, and may be doing the same to Gallup’s unemployment results. The presidential election may also have disrupted the job market for a few days in early November.”
The October rate was 7 percent. The new rate released this morning by Gallup is 7.4 percent.
Wait a minute. I’m disoriented. Not even the last BLS report that I remember has unemployment that low. 7 PERCENT? Or, for that matter 7.4 PERCENT?
I mean, that would be nice, if true, but how did it go from 7.9 % to 7 percent, or 7.4, or whatever. How?
Anyone esle have issue with this?
Meant to add “how did it go from 7.9 to 7 IN A MATTER OF A FEW WEEKS?
This is a separate poll conducted by Gallup, not the official BLS number.
I understand that. I was wondering how Gallup cmae up wit these numbers. Gallup, remember, had more pessimistic numbers than BLS on average. All of a sudden they are rosier than BLS. Why?
The simplest answer could be that the economic recovery is accellerating. Is it?