Gallup: Unemployment Hits 10.1%


Here’s some change we can believe in – 10.1% unemployment.

Unemployment, as measured by Gallup without seasonal adjustment, increased to 10.1% in September — up sharply from 9.3% in August and 8.9% in July. Much of this increase came during the second half of the month — the unemployment rate was 9.4% in mid-September — and therefore is unlikely to be picked up in the government’s unemployment report on Friday.

Of course the government won’t report these dismal numbers. They probably won’t mention underemployment, either.

As a result, underemployment shows a more modest increase to 18.8% in September from 18.6% in August, though it is up from 18.4% in July. Underemployment peaked at 20.4% in April and has yet to fall below 18.3% this year.

No worries, though Nancy Pelosi said food stamps and unemployment checks are just what the doctor ordered. I’m sure those words were quite comforting to the millions of unemployed, and underemployed Americans.