Gallup- Unemployment lower than thought

[James48843]

Gallup: The Unemployment Rate Is Collapsing

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: Gallup: The Unemployment Rate Is Collapsing - Business Insider

Complete data on the falling unemployment rate, from Gallop article:
http://www.gallup.com/poll/158060/unadjusted-unemployment-mid-october.aspx​

 

[nnuut]

How convenient.

U.S. Initial Jobless Insurance Claims Surgeby Tom Moeller October 18, 2012

Initial unemployment insurance claims spiked to 388,000 in the week ended October 13 versus a revised 342,000, last week reported as 339,000. The Bureau of Labor Statistics indicated that technical issues account for the recent volatility. Consensus expectations were for 365,000 claims. The four-week moving average of initial claims increased to 388,000. The latest figure covers the week of the BLS October payroll employment survey. Claims rose 3,000 (0.8%) from the September period. During the last ten years the has been a 75% correlation between the level of claims and the m/m change in nonfarm payrolls.
Continuing claims for unemployment insurance slipped to 3.252M (-12.2% y/y) during the week of October 6. The insured rate of unemployment fell to 2.5% after 6 months at 2.6%. This particular count covers only "regular" programs and does not include all extended benefit and other specialized jobless insurance programs. In the week of September 29, the latest figure available, the grand total of all benefit recipients again fell to a recovery low of 5.002M. The latest was down by one-quarter y/y and was off by more than one-half since the peak in January 2010.

http://www.haver.com/

 

[James48843]

Continuing claims for unemployment insurance slipped to 3.252M (-12.2% y/y) during the week of October 6.
The insured rate of unemployment fell to 2.5% after 6 months at 2.6%.

So there you go. The long term unemployment is shrinking. Down 12.2% year over year. Economy is recovering.

 

[nnuut]

Wait for the Monthly/yearly, Nov 2nd.

 

[Intrepid_Timer]

Wait for the Monthly/yearly, Nov 2nd.

Two trading days before the elections. :nuts:

 

[nnuut]

Fruits and Nuts!
[h=1]Ignore volatile jobless data: Hiring still slow [/h][h=2]Weekly claims report likely distorted by California [/h]Oct. 18, 2012, 11:21 a.m. EDT

WA

SHINGTON (MarketWatch) — The Golden State has tarnished the ability of economists to figure out what’s going on in the labor market the past few weeks.
The truth is, nothing much has changed. The economy is still growing slowly and adding jobs at a mediocre rate.
So why the confusion? Blame bouncy jobless claims in the first half of October. These are the applications people file to collect unemployment benefits after they lose a job.
New applications for benefits, a rough gauge of how many layoffs are occurring, sank in the first week of October to a four-year low. Then they soared in the second week to a three-month high. Read about the latest jobless claims report.
The culprit: California. The nation’s most populous state appears to have shown a smaller number of claims than usual two weeks ago. The seeming shortfall was probably accounted for in the most recent report.

Ignore volatile jobless data: Hiring still slow - Capitol Report - MarketWatch

 

[Bullitt]

I would love to know who's hiring. Most federal jobs have hiring freezes.