Friday, March 4, 2011

Jobapalooza

Ahead of today's Labor Department numbers,  Gallup's survey of Americans finds their measure of the unemployment rate back up to 10.3%, but most importantly the underemployment rate at a whopping 19.9%.

Underemployment, a measure that combines part-time workers wanting full-time work with those who are unemployed, surged in February to 19.9%. This resulted from the combination of a sharp 0.5-point increase since the end of January in the percentage unemployed and a 0.5-point increase in the percentage working part time but wanting full-time work. Underemployment is now higher than it was at this point a year ago (19.7%).
U.S. Underemployment, 2010-2011 Trend
Not good in any way, meaning that there's been nothing but treading water in the last year according to Gallup's numbers.  I'll dispute their unemployment survey, but the underemployment numbers are far closer to reality than the government's 16-17% figure.

We'll see where the official figures come in.

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