Saturday, August 18, 2012

Obamanomics Creating More Beggars

New Gallup unemployment data suggest an increase in the government's seasonally adjusted unemployment rate for August when it is reported on Friday, Sept. 7. During recent months, Gallup's measurements have been more optimistic than those of the BLS. Barring a sharp reversal in this relationship, the government's unadjusted unemployment rate might be expected to stay the same or increase in August.

Gallup's Daily tracking of the unemployment situation is based on interviews with more than 30,000 adults over the 30 days ending Aug. 15, and shows essentially no change in the unadjusted unemployment rate at 8.3% compared to 8.2% in July. In turn, this suggests that the government's unadjusted unemployment rate could increase to 8.7% in July from 8.6% in June. The government's measurement of the unadjusted unemployment rate has been known to differ with Gallup's findings, but a drop of 0.3% in July is necessary to bring the government's unadjusted rate down to Gallup levels.


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