Unemployment Rate Falls: Gallup
Ahead of tomorrow’s official release of the U.S. unemployment rate, Gallup today said that its non-seasonally adjusted rate fell from 8.1% in August to 7.9% in September. The final September figure is identical with Gallup’s mid-September rate. On a seasonally…
Gallup notes that the unadjusted 7.9% rate is the lowest since the company began tracking employment data in January 2010, and well below the 8.6% rate measured last September.
The unadjusted underemployment rate in September came in at 16.5%, again the lowest on record for the survey, and substantially better than the 18.3% rate in September 2011. The drop is attributed to a decline in unemployment and a decline in the number of part-time workers seeking full-time employment.
The official unemployment rate was 8.1% in August and is expected to remain unchanged when the U.S. Department of Labor reports tomorrow.
Paul Ausick
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.