Gallup unemployment continues to fall: New low of 7.3%.

Further independent confirmation that the BLS 7.8% unemployment rate announced last week may not be a fluke, Gallup's poll figures released today report an unemployment rate of 7.3%. This is another new record low since Gallup began tracking unemployment in Jan 2010. Bear in mind this rate is not seasonally adjusted like the BLS number is, but Gallup's polling showing a significant drop in the unemployment rate (compare to 8.5% a year and 8.2% two months ago) corroborates the drop we saw in the BLS figures.

It is a sign that the labor market is continuing to improve, but it may be too late to help Obama.

http://www.gallup.com/poll/125639/Gallup-Daily-Workforce.aspx

 

....labor market is continuing to improve

I don't even know what this means anymore.

 

It means fewer people who want a job are reporting they don't have one.

Part of it is no doubt seasonally hiring, as a most of the increase is part time. However, the numbers reflects a signficant improvement over last year.

It is good news, except to those invested in failure for political purposes.

 

Is it good news if 1 million people get jobs next week making minimum wage, while 500k full time jobs are lost?

Unemployment will most definitely come down.

 

Compared to losing 700,000 jobs a month? It is most excellent.

Uh oh, that's not a good sign.

 

I'm not asking you to compare to anything. 699,999 is better than 700,000. Can you answer the question?

 

It's all a matter of context isn't it? Are 1 million new part time jobs better than 500,000 less full time jobs? That is a hypothetical question that cannot be accurately answered based on the data given. It depends on the quality of part time jobs gained and full time jobs loss.

But at least you have a net 500,000 more families with income coming in than you did before. That may be an improvement.

 

Exactly. It depends on the quality. So realistically, you are an arguing a moot point, pumping your chest on a theoretical ue number, which you admit, may not mean anything, if the quality jobs aren't there.

 

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