Gallup Unemployment Vs BLS Unemplyment: Polled Unemployment Soars To March 2012 Levels

August 23, 2013 Leave a comment

BLS, We Have A Problem: Polled Unemployment Soars To March 2012 Levels

Tyler Durden on 08/22/2013 09:27 -0400

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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. Due to the lack of Arima-X ‘magic’ the results are specifically not comparable to the BLS data, but, as the chart below suggests, the correlation is high. What is most worrying about the latest data is the rapid rise in both unemployment and underemployment that the Gallup poll finds (to 8.9% unemployment and 17.9% underemployment. Unemployment rates have jumped notably in the last month to their highest in 13 months. Will the Fed ‘allow’ this data to filter into the BLS data and ‘avoid the Taper’ or are there non-economic reasons (G-20, deficits, technicals, sentiment) that the Fed needs to SepTaper.

Filed under Macro Trends

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