Gallup: The Unemployment Rate Is Collapsing

TBi ^ | 10-17-2012 | Joe Weisenthal

[blam]

Gallup: The Unemployment Rate Is Collapsing

Joe Weisenthal
Oct. 17, 2012, 11:46 AM

More evidence that the official 7.8% unemployment rate is not the wild outlier people initially thought.

This just in from Gallup:

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WASHINGTON, D.C. -- U.S. unemployment, as measured by Gallup without seasonal adjustment, is 7.3% in mid-October, down considerably from 7.9% at the end of September and at a new low since Gallup began collecting employment data in January 2010. Gallup's seasonally adjusted unemployment rate is 7.7%, also down from September. October's adjusted mid-month measure is also more than a percentage point lower than October 2011.

These results are based on Gallup Daily tracking surveys conducted by landline and cell phone with more than 30,000 U.S. adults from Sept. 16-Oct. 15. Gallup's seasonally adjusted unemployment rate incorporates the .04 upward adjustment used by the U.S. Bureau of Labor Statistics (BLS) in October of last year. The adjustment for September was an increase of .02, which explains the .04 drop in seasonally adjusted employment despite the .06 decline in the unadjusted number.

[E.G.C.]

BTTT

[Cindy]

Thank you Brad’s Gramma.
I appreciate your post and ping.

[lysie]

Prayers up for your neighbor.

[American Constitutionalist]

AMEN !! Say it loud and say it often.

Our side, Rush, Drudge, the new media needs to spin it this way.
The markets are reacting in anticipation of a Romney win.

[Twinkie]

“These coincidences are just amazing aren’t they?”

AMAZING!! Is it true that Holder’s Justice Dept. is putting the squeeze on Gallup?

[OneVike]

Actually it’s RegulatorCountry’s neighbor. I just gave a heads up to the prayer warriors for her. However, thank you anyway, becaue I am sure my neighbor could use prayers also.

<:’)

[fabian]

and if there was no unemployment for people, we would be in a bad depression.

[Alamo-Girl]

I join in urgent prayer for her!

[thesearethetimes...]

Prayers up, for your friend, and so many others like her.

May God keep watch.
Tatt

[visualops]

My husband gets panic attacks, I know they can be very debilitating.

[MD Expat in PA]

Californica, max is $450 , just enough for a few tanks of gas and some groceries , after taxes, which will be imposed on the $450 “earned”

Thanks for the clarification. But I’m trying to wrap my head around the math here.

If the max unemployment benefit in CA is $450 per week, that would equate to a max hourly rate based on a 40 hour week of $11.25 per hour or $23,400 per year – and that’s no question about it, a pretty low amount to live on if you have to pay bills and support a family.

But if you were working only 8 hours per week and exceeded the max benefit of $450 per week, that would if my math is correct, equate to an hourly rate of $56.25 per hour or $117,000 per year.

I “feel your pain”. I was out of work for over a year and a half and got absolutely no unemployment because I was an independent contractor at the job I was let go from in 2008. I was making around 70k per year and had a good amount in savings that eventually ran out as I was making a mortgage and car payment and eating beans and rice as I looked for work to no avail.

But I have to be honest with you; unemployment benefits are not meant, were never meant to be a full salary replacement insurance plan. It’s meant to be a temporary stop gap, a temporary benefit to keep one minimally afloat between jobs. That works if someone is out of work for a few weeks or even a month or two but being out of work due to no fault of looking for work and not getting for any more than a few months, it is a disaster.

[RegulatorCountry]

Thank you all so much. She’s a good woman, cared for her mother in her home for years until her passing about a decade ago, took in her brother when he had difficulties as well. Her name is Rebecca. I pray that God grants her His peace in her time of trouble and that He guides her to a means of supporting herself and her young daughter.

[RegulatorCountry]

Thank you very much, Alamo Girl. Good seeing you on FR, I haven’t seen too many posts from you recently. I always enjoy your replies.

[RegulatorCountry]

Thank you for your prayers.

[RegulatorCountry]

If dawn on a weekday didn’t cause one, trying to go out the door to drive to my office did. I’d get lightheaded, even nauseated. It was tough and hampered my ability to deal with all the problems at hand at the time.

[Alamo-Girl]

I’ve been posting mostly to the religion and science threads these days. It’s great to “see” you, dear RegulatorCountry!