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.

[DuncanWaring]

If the “Unemployment” rate is dropping, is the “Employment” rate (currently in the general neighborhood of 60%, lowest it’s been in 30 years) rising?

If so, it’s actually good.

If not, it’s yet another accounting scam.

[sanjuanbob]

Not familiar with the word. What’s an outliar?

[rurgan]

food prices and gas prices rising now . Obama communist printing of trillions of $ every year will lead to dollar becoming worthless.

[PghBaldy]

Are you kidding? If this were any old poll, that would be an enormous sample.

[Wings-n-Wind]

Hmmm......
....more evidence of Axelrod's mischief /threats against GALLUP...

Edumacated guess...

[andy58-in-nh]

If one reduces the assumed workforce by a large enough number, the unemployment rate will eventually approach zero.

[griswold3]

participation rates just like the EU

[rurgan]

You are right. % of adults working has been constantly declining all throughout Obama’s term

[DJ Frisat]

[churchlady on] How conveeeeeeeeeen-ient.... [/churchlady off]

[rurgan]

yes and worse debt too

[Sooth2222]

U6 unemployment was 14.7% in August and 14.7% in September. No change.

Alternatively, how about -- employers (like Obama buddy Clarence Otis's Darden Restaurants Inc.) are cutting employees back to 28 hours per week, so they are exempt from Obamacare coverage?

This would require an employer to hire nearly half-again as many workers to cover for those hours. Since the Federal minimum wage for tipped employees is $2.13/hour and they're now going to be taxed if they don't buy their own health insurance -- I'm unsure that this is great news.

[nickcarraway]

I wouldn’t get your hopes up. Even if Romney wins we will still have a tax-raising socialist president.

[KTM rider]

I cant even GET unemployment, my company wants to keep me around and manages to find me 8 hours a week and that exceeds the unemployment amount, I keep filling out the "continued claim form" , running out my eligibility clock but drawing zerOs

my business is so specialized there is no where else to apply for a job unless I want to try and trade carreers into a related field

been barely holding off the wolves for four years but they are starting to close in and I am running out of ammo

[Vendome]

Total Crock of Shiite.

It’s a statistical sampling of 30,000 households benched against nearly 150 million “possible” workers.

It’s not even at the level of meaningless.

[Jmouse007]

If and when Mit gets elected one of the first things he should do is undo all of the intentionally false and misleading ways and means the Obama administration has put in place for counting the "unemployed" in order to "cook the unemployment book" numbers. He should reinstate HONEST and TRUE methods for getting to the bottom of reporting the ACTUAL unemployment and under-employment numbers. That way the MSM can't say: "Look how bad it has gotten since Mit took over." Once his administration knows and reports the actual/REAL number that is the base line his administration along with the American people should work from and work with in order to undo the massive damage Obama, his policies, his administration and his minions have brought about.

This step alone would go a long way to restoring TRUST in the White House and the American government's reporting on unemployment figures. It would also remove a powerful mime tool the MSM and the DemocRATS who are out of power would seek to use in order to clober Mit over the head: "See, when Obama and we were in power, unemployment was coming down, but LOOK HOW BAD THINGS HAVE GOTTEN SINCE MIT TOOK OVER."

I would get to the bottom of the REAL unemployment figures and report those numbers to the American people ASAP because no one, except for brain-dead, kool-aid drinking Obamabots believes the BS the Obama admin is spouting regarding these bogus deflating unemployment numbers.

[bigheadfred]

It sure isn’t me.

[RipSawyer]

“Anyone here know of anyonee that has gotten a job that is to the level of their pay before they lost their last one?”
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Well, I think some of the more fortunate ones are actually earning slightly MORE in a year...than they used to earn in six months.

[rurgan]

Millions of people like you . But the obambots here and other democrats think it’s a joke for people to be jobless or homeless, numbers to be manipulated.No there are real people suffering under this communist Muslim Obama.

[MD Expat in PA]

I cant even GET unemployment, my company wants to keep me around and manages to find me 8 hours a week and that exceeds the unemployment amount, I keep filling out the "continued claim form" , running out my eligibility clock but drawing zerOs

Curious. What state are you in? If you are making so much that working 8 hours a week exceeds the max unemployment benefits I'm curious what your state's max benefits are. Most people will qualify for partial benefits if they had been working 40 hours a week and were involuntarily cut down to 8 per week.