In the latest Gallup report on unemployment, it shows a dramatically different view than the data calculated by the Bureau of Labor Statistics. There are several reasons, notably, Gallup does not seasonally adjust, uses 18+ rather than 16+, and does interviews rather than data from employers. The interesting fact we garnered from the data is that the unemployed, underemployed and fully employed data does not vary significantly over the past two years which concurs with our observations.
Could the Bureau of Labor Statistics be making up the numbers to please their bosses? Would they really be so political? We think so and have made a bet that the rate for unemployment as reported by the government will be around 5% by the time the election comes around. Are we wasting our money?
What are your impressions? Go to the following link for the story.
http://www.gallup.com/poll/125639/gallup-daily-workforce.aspx
The unemployment statistics unfortunately do not paint an accurate picture of the real unemployment rate. Case in point, workers who are considered "discouraged" or "unemployable" because they have not been able to gain employment are no longer counted. As I'm sure the President knows, if you stop counting enough people the unemployment rate starts to look pretty good.
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