Tuesday, July 9, 2013

Gallup: Unemployment Worse Than Government Reported Data

The Gallup Organization reports:

Gallup's private-sector monitoring of the jobs situation shows no improvement in full-time Payroll to Population (P2P) between June 2013 (44.8%) and June 2012 (44.9%). Further, Gallup's workforce participation rate suggests more Americans are joining the workforce this year, and the government is not picking up the increases, meaning the unemployment situation may be much worse than now recognized.[...]

. June's 68.5% matches the highest participation rate Gallup has seen since continuous monitoring began in January 2010. Gallup's participation rate surged to 68.5% in April 2013 from 67.7% in March.[...]

The government reported its lowest unadjusted participation rate of the year in March and April at 63.1%. This increased in May to 63.5%, trailing the surge in participation Gallup picked up in April. The government's participation rate is lower than Gallup's for a variety of methodological reasons, and these differences may also explain why the BLS participation rates continue to trail those seen in 2012 on a monthly basis.

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