Wednesday, August 21, 2013

Gallup: Unemployed = 8.9%... BLS says 7.4%

Who is wrong? 
Gallup says the unemployed number is 8.9%. Underemployed is 17.9 

The Bureau of Labor Statistics says that U.S. employers added 162,000 jobs in July. The gains were enough to lower the unemployment rate to a 4 1/2 -year low of 7.4 percent. 

Gallup tracks daily the percentage of U.S. adults, aged 18 and older, who are underemployed, unemployed, and employed full-time for an employer, without seasonal adjustment. "Underemployed" respondents are employed part time, but want to work full time, or they are unemployed. "Unemployed" respondents are those within the underemployed group who are not employed, even for one hour a week, but are available and looking for work.

Well if you add in the fact that there is a workplace of participation 157,196,000 and 88,560,000 Not participating in the workforce, that will give us a totally different number.That is 27%. You can eliminate a lot of those 88 million as stay at home parents, and other reasons. According to the BLS, only about 6,862,000 are actually looking for work.