According to Gallup’s mid-month reading of the U.S. unemployment rate, the percentage of Americans without work is up from 8.6% in January to 9.0% in mid-February. That number does not include a seasonal adjustment.
Based on the 30 days ending Feb. 15 Gallup’s mid-month reading serves as an estimate of the U.S. government’s employment report. Gallup found that unemployment decreased to 8.3% in its mid-January report, and suggested that the U.S. unemployment rate the Bureau of Labor Statistics reported for January would decline.
Gallup also finds that 10.0% of U.S. employees in mid-February were forced to settle for part time due to a lack of full-time work, the same as in January.
Underemployment, a combination of the percentage of workers who are unemployed and the percentage working part time but wanting full-time work, is 19.0% in mid-February, up from the 18.7% recorded for January.
In early March the Obama administration will report its February unemployment rate. That rate will be based on mid-month conditions. Gallup’s mid-month unemployment reading, based on data collected through the 15th of the month, normally provides a good basis on which to estimate the direction of unemployment rate for the month.
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When Unemployment is high, we need to find alternative strategies to get money in. This is what we are trying to do here in Africa. Small business start-ups are changin people’s lives!