Gallup’s monthly measure of US unemployment finds that a sharp rise occurred in the month of November. Skipping over the usual “unexpectedly” that most economics reporters use month in and month out, Gallup speculates on the cause of the unemployment spike.
It is unclear what caused the increase in the unemployment rate in November, although some experts speculate that it was caused by jobs lost as a result of superstorm Sandy. It is also possible that lackluster holiday hiring is to blame.
Wouldn’t lackluster holiday hiring indicate a weak economy, that is not “poised to take off” as President Obama said it was this week?
Although the increase in the unadjusted rate in November is a sharp contrast to the 0.9-point decline seen in October, November’s 7.8% rate is still tied for the second-best unadjusted unemployment monthly reading of 2012. However, on an adjusted basis, November’s rate is the highest reading in six months. Looking at year-to-year comparisons, seasonally adjusted unemployment is down from 8.9% in November 2011.
Underemployment, as measured without seasonal adjustment, was 17.2% in November, a 1.3-point increase since the end of October. The uptick in November also puts an end to the six-month trend of improvements or no change. Still, underemployment has improved 0.9 points since November 2011.
It’s still higher than it was when Barack Obama took office.
– the economy will still be poised to take off.
Get it straight: If a Democrat is president, %9+ unemployment is “better than anticipated.” If a Republican is president, %6 unemployment is a “jobless recovery,” or better yet, “the second Great Depression.”
All lies. I’ll bet the numbers were calender crunched for the election like all the employment data has been. Always off, no 50/50 split on error rates though. Like Benghazi. Like the CPI. Like true unemployment. I think the GOP also likes it that way or they wouldn’t tolerate it: sort of like statutory rape. I thought we were grownups; we are expected to lay back and enjoy this? We are lied to every day. What a glam culture we have decayed to. Living off the unborn is unhealthy and without SOUL We should all be very ashamed. From what we have been given to this. Awful.