Real Unemployment Set At 10.1% According To Gallup

From The Hill, we have this prediction: The unemployment rate is projected to rise to 9.7 percent from 9.6 percent in September as more people entered the job market looking for work.

We at Midknight Review, know that these estimates are often inaccurate. It is possible that the predicted increase is a set-up designed to lessen the impact of bad news three weeks before the elections. We will know how this plays out tomorrow.

In the meantime, understand this: according to Gallup, the actual rate of unemployment is 10.1% The difference between Government's numbers (9.5% - 9.6%) and the Gallup figure is the unemployed part-time worker population. Gallup counts them, the Feds ignore this class of workers.

The numbers being released tomorrow relating to national unemployment percentages will be the last numbers released before the midterm elections. Undoubtedly, there is pressure to keep this unemployment number at 9.5% or lower. If it goes up, it simply means that things are worse than the Administration wants to admit.

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