Thursday, August 22, 2013

Gallup Data Shows Sharp Rise in Unemployment in August 2013

Uh oh, we have a problem.  The latest data from Gallup shows that unemployment has risen to 8.9% from 7.9% in just one month.

Check out this chart that I made from Gallup data showing unemployment trends for the latest month (July 20,2013 to August 20, 2013).   It's not seasonally adjusted like BLS numbers, but a trend is a trend.  In this case, the trend is not your friend.   With all of the manipulation of data at the BLS, I like the raw data from Gallup.  Yep, I trust the Gallup organization more than the Government.

The last data from Gallup is that "Underemployment" is at 17.9%.  Some "recovery." There's a chance that we've entered a recession.

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