Gallup: The Unemployment Rate Is Collapsing
Source: Business insider
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.
Read more: http://www.businessinsider.com/gallup-the-unemployment-rate-is-collapsing-2012-10
7.3%!!!!!!!!!
berni_mccoy
(23,018 posts)HereSince1628
(36,063 posts)that can percolate until the election.
ibegurpard
(16,685 posts)repuke heads are exploding...
Happyhippychick
(8,379 posts)robbob
(3,531 posts)Thank God I just finished swallowing my coffee or you would owe me a new monitor!
Swede Atlanta
(3,596 posts)it was plausible to suggest there were more jobs because employers (those 1% job-creating rascals) are finally opening up their bank vaults), then the unemployment rate should actually skyrocket. It would skyrocket because many who have given up looking and are now not even counted in the UE rate would rush back into the job-search market.
They can't have it both ways...oh wait....yes you can, on Faux News...
Kencorburn
(74 posts)Even though that number has been on a steady decline also.
calimary
(81,298 posts)Glad you're here! There's still so much work to do! This thing isn't won yet, and we need you!
Now get to work.
Johnny Noshoes
(1,977 posts)BUT...I see a lot more jobs on the boards and I figure it is only a matter of time before I hit the target. I'll get one and with the rate dropping the odds get better.
progressivebydesign
(19,458 posts)When Bush left office, I literally saw 12 jobs a day on Craigslist in my area.. now there are hundreds. So many of the jobs now are very very specific, though. Seems that employers are not interested unless you have very specific experience in their particular industry. I saw one today for a title company, for an entry level clerical job (not what i'm looking for,) but it was so weird that they required 3-5 years experience in the industry for an entry level receptionist/clerical job. Not sure how that'd work...
Good luck! It's definitely improving!
craigmatic
(4,510 posts)arely staircase
(12,482 posts)at it again.
ErikJ
(6,335 posts)WASHINGTON (AP) U.S. builders started construction on homes in September at the fastest rate since July 2008 and made plans to build even more homes in the coming months. The gains show the housing recovery is strengthening and could help the economy grow.
The Commerce Department said Wednesday that home construction rose 15 percent last month to a seasonally adjusted annual rate of 872,000. Single-family construction rose 11 percent to the fastest rate in four years. Apartment building increased 25.1 percent.
Applications for building permits, a sign of future construction, jumped nearly 12 percent to an annual rate of 894,000, also the highest since July 2008. http://www.boston.com/business/news/2012/10/17/housing-construction-percent-september/vJU2wMY5HNp7KqOTX3i2sL/story.html
EnviroBat
(5,290 posts)But I work for a state university, so according to repukes that counts for nothing...
golfguru
(4,987 posts)This is excellent news for those hapless souls. I feel their pain.
I lived all my life of fearing a layoff. It has to be very scary situation.
Mojorabbit
(16,020 posts)I sure hope it improves. They are still finding nothing but I live in Fl and we were hit harder than a lot of states.
Jimbo S
(2,958 posts)to debunk Romney
I believe 12 million UE and 3 million who stopped looking for work, plus a certain number under-employed.
I read it this week, but can't the article or a link. Sorry.
Quixote1818
(28,943 posts)It could really drop like a rock over the next few years because of this.
boingboinh
(290 posts)calimary
(81,298 posts)Glad you're here. We need you to help us make sure it's OBAMA-BIDEN for four more years.
Now get to work.
zbdent
(35,392 posts)8% statement all this time, only to drop below 8% right before the election.
Next, someone will probably tell me that Obama fixed the Dow to where it's nearly double what it was when he took office.
(btw, for the sarcastically-impaired: )
Politicalboi
(15,189 posts)He raised the gas prices so we wouldn't catch on.
zbdent
(35,392 posts)right before the election. Just so he can get the prices to $5/gallon ...
lonestarnot
(77,097 posts)CBHagman
(16,984 posts)I won't be holding my breath, but still, wow!
truthisfreedom
(23,148 posts)They generally lean in the wrong direction.
yellowcanine
(35,699 posts)an increase of 0.3% in just 2 weeks!
azurnoir
(45,850 posts)to re-elect Obama
ffr
(22,670 posts)But I don't believe that's the actual number based on private sector payrolls. I don't think they have access to that data, so saying unemployment is 7.3%, is based on some algorithm they use.
No question though, the unemployment numbers that come out prior to election day will probably substantiate September's 7.8% unemployment number, but October is somewhere lower than that.
But instead of defending the statistics, I'm going to sit back and watch the RW heads explode from doubling & tripling down on the desire to see America FAIL.
SkyDaddy7
(6,045 posts)SkyDaddy7
(6,045 posts)He will be credited for improving the economy when the real credit should go to Obama...And we will have to go through another 2-3 decades of listening to how Romney fixed the economy after the worst financial disaster since the great depression & there will be no mention of Obama at all.
Not only that but the SCOTUS future for the next 2-3 decades is at stake...Probably the MOST important issue of the election!!
wisteria
(19,581 posts)Republicans screw up the economy and them a Democrat is elected who can't fix it fast enough, but is leading us forward, and then the American people believe the lies that Repubs are better for our economy and elect a Repub who takes credit for improving it. That is why this time I am determined to do all I can do to make sure President Obama wins this one. It is time to change this unfair pattern.
maddogesq
(1,245 posts)I wish got more airplay, even on Current and MSNBC. It's like, why not just say that there are aging justices that will need replacement? JUST SAY IT!!!!
And by the way, calling Fat Tony or Slappy justices is like calling Paul Ryan Abraham Lincoln.
Digital Puppy
(496 posts)Can't wait to see how the MSM reports this. Not going to hold my breath to see if this gets more mentions than Lindsay Lohan's driving record...
sharkman25
(143 posts)Weekly applications for U.S. unemployment benefits jumped 46,000 last week to a seasonally adjusted 388,000, the highest in four months.
http://www.ows.doleta.gov/press/2012/101812.asp
calimary
(81,298 posts)Good to have you here. We need you! We need you to help us lock this in for President Obama next month.
Now get to work.
sharkman25
(143 posts)calimary
(81,298 posts)DCBob
(24,689 posts)The 4 week average is the one to watch.. its still in a reasonably low range.. 365,500.
From Reuters..
Initial claims for state unemployment benefits rose a greater-than-expected 46,000 last week to a seasonally adjusted 388,000, the Labor Department said. But the department cautioned that data over the past two weeks appeared distorted by a shift in the way one state was reporting its claims figures. A four-week moving average that smoothes weekly volatility fell from a month earlier, suggesting the lackluster recovery in the job market was on track.
"Things are getting better in the labor market, but only slowly," said Yelena Shulyatyeva, an economist at BNP Paribas in New York.
http://www.reuters.com/article/2012/10/18/us-usa-economy-jobs-idUSBRE89H0NI20121018
denverbill
(11,489 posts)One had been unemployed for quite a while, my stepdaughter for several months, and the third person only a month or so.
Things are definitely turning around.
Jack Rabbit
(45,984 posts)The Koch brothers paid me to say that.
Harry Monroe
(2,935 posts)tclambert
(11,087 posts)Welch Rabbit. Ha.
You're just trying to distract people from the REAL conspiracy, that on 9/11, airplanes did not destroy the World Trade Center. The two towers were actually secretly moved to Area 51 under orders of the Illuminati, and everything else was fakery. Think about it and see if your head doesn't explode, people.
Politicub
(12,165 posts)if we get to 2014 without it being repealed by the GOP.
So many people will be entering the system and the bill calls for numerous technological innovations, community clinics, and research on improving outcomes.
The reordering of such a big part of our economy will create opportunities for everyone.
Bank on it.
TruthBeTold65
(203 posts)ProudProgressiveNow
(6,129 posts)FamilyMan
(31 posts)Part of Rove trying to 'engineer' the election.
LW1977
(1,235 posts)There are right wing wackos gloating about how bad it looks for Obama in the Gallup daily tracking.. 52-47 as of today I think. We can't afford 4 years of President Romney.
donna123
(182 posts)Unemployment falling, consumer confidence rising (there was some article about it rising 15% or so last month), housing rebounding. When people feel confident and optimistic, it helps the economy. When people hear doom and gloom, even if their circumstances are fine, they feel insecure and pessimistic. The good news needs to be emphasized.
I wish people would realize how bad it could have been. Look at Europe, look at Greece and Spain. 25% unemployment, 25%! Social unrest, extreme politicians gaining power. Greece lied about their finances, hid their problems, somewhat comparable to what Bush did by not putting the wars on the books. Bush hid how much he was running up the deficit from the country and then as he was leaving office, he finally gave the country the bill for the wars, like a big F--- you to the country, as his parting gesture. All the while giving us tax cuts while he was in office to make us think he was some great guy. To think, some in this country may fall for it all over again with Mitt's promises of tax cuts that will not stimulate the economy, anymore than Bush's tax cuts did.
We are on the right path. We do not need to make a U turn with Mitt.
fujiyama
(15,185 posts)I don't trust anything they have to say. Gold standard of polling my ass. I think they're just getting by on their legacy at this point.