Thursday, October 07, 2010

Gallup Finds U.S. Unemployment at 10.1% in September

Unemployment, as measured by Gallup without seasonal adjustment, increased to 10.1% in September -- up sharply from 9.3% in August and 8.9% in July.  I believe the Gallup number along with the negative employment report that ADP reported yesterday for the private sector employment picture. However, given that everyone will be watching closely to the BLS number tomorrow, I expect the government's (BLS) final unemployment report before the midterm elections will understate the true unemployment rate.

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