Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

3/8/2012 (3 years ago)

Catholic Online (www.catholic.org)

Underemployment is 19.1 percent, up from 18.7 percent in January

As measured by Gallup without seasonal adjustment, U.S. unemployment increased to 9.1 percent in February from 8.6 percent in January and 8.5 percent in December. The 0.5-percentage-point increase in February compared with January was the largest such month-to-month change Gallup has recorded in its not-seasonally adjusted measure since December 2010, when the rate rose 0.8 points to 9.6 percent from 8.8 percent in November.

The increase in unemployment as measured by Gallup may, at least partly, reflect growth in the workforce, as more Americans who had given up looking for work become slightly more optimistic and start looking for work again.

The increase in unemployment as measured by Gallup may, at least partly, reflect growth in the workforce, as more Americans who had given up looking for work become slightly more optimistic and start looking for work again.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

3/8/2012 (3 years ago)

Published in Business & Economics

Keywords: Unemployment, February, Gallup Poll


LOS ANGELES, CA (Catholic Online) - Gallup recorded a February increase of 0.4 percentage points last year, to 10.3 percent from 9.9 percent in January 2011.

In addition to the 9.1 percent of U.S. workers who are unemployed, 10.0 percent are working part-time but desire full-time work. These figures are similar to the 10.1 percent in January, higher than the 9.6 percent of February 2011.

Gallup's U.S. underemployment measure, which combines the percentage of workers who are unemployed and the percentage working part time but wanting full-time work, increased to 19.1 percent in February from 18.7 percent in January. This is an improvement from the 19.9 percent of February 2011.

The recent unemployment rate that the U.S. government will report at the end of this week will be based largely on mid-month conditions. In the middle of February, Gallup reported that its U.S. unemployment rate had increased to 9.0 percent from 8.3 percent in mid-January. Readings conducted in the middle of the month normally provides a relatively good estimate of the government's unadjusted unemployment rate for the month.

Assuming the government's unadjusted rate increases, from its 8.8 percent in January, to at least match Gallup's mid-month measurement for February, then the government should also report an increase in the seasonally adjusted unemployment rate for February. If the government's unadjusted unemployment rate increases to the degree that Gallup's has from mid-month to mid-month, then the government's seasonally adjusted unemployment rate could show an even larger increase.

Last February, the U.S. Bureau of Labor Statistics applied a seasonal adjustment factor of 0.5 points to its unadjusted unemployment rate for the month. If that same seasonal adjustment is applied to Gallup's mid-month unemployment rate of 9.0 percent, it would produce a seasonally adjusted unemployment rate of 8.5 percent. If this is applied to Gallup's full-month unemployment rate of 9.1 percent, it would produce a seasonally adjusted rate of 8.6 percent. Gallup therefore forecasts an increase in the unemployment rate.

The consensus forecast is for no change in the government's unemployment rate. February jobless claims were running at roughly 350,000 during the month, implying a relatively stable unemployment rate. This week's ADP report suggested that private-sector jobs increased by more than 200,000 in February is also somewhat supportive of a stable unemployment rate forecast.

Regardless of what the government reports, Gallup's unemployment and underemployment measures show a substantial deterioration since mid-January. In this context, the increase in unemployment as measured by Gallup may, at least partly, reflect growth in the workforce, as more Americans who had given up looking for work become slightly more optimistic and start looking for work again.

While thee may be viewed as positive developments, the reality Gallup finds is that more Americans are looking for work now than were doing so just six weeks ago.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for March 2015
Universal:
Scientists: That those involved in scientific research may serve the well-being of the whole human person.
Evangelization: Contribution of women: That the unique contribution of women to the life of the Church may be recognized always.


Rosaries, Crosses, Prayer Cards and more... by Catholic Shopping .com


Comments


More Business & Economics

World's discarded electronic junk building up into massive toxic dump Watch

Image of Less than 16 percent of global e-waste is being diverted from landfill into recycling and reuse.

By Catholic Online (NEWS CONSORTIUM)

Television sets, washers and driers, stereos - broken, discarded, and then thrown away, are creating a massively toxic waste dump of gargantuan proportions. The irony in all this "e-waste" is the fact that precious metals such as gold and silver are also thrown ... continue reading


Australian father-and-son team raises $10 MILLION for beehive project Watch

Image of The beehive symbolizes productive activity, and for father and son Cedar and Stuart Anderson of Australia, their project was literally that.

By Catholic Online (NEWS CONSORTIUM)

The beehive symbolizes productive activity, and for father and son Cedar and Stuart Anderson of Australia, their project was literally that. Nearly 30,000 people have funded their "Flow Hive" project on Indiegogo for $10 million dollars. Not bad at all for such ... continue reading


'Slow ya roll' Obama. You spoke too soon? Job growth suddenly slows down Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

Intent on rallying the nation on its improved economy, U.S. President Barack Obama appears increasingly aware that threats are gaining speed that could derail job growth. LOS ANGELES, CA (Catholic Online) - "Our economy has been growing, we've got momentum," ... continue reading


Federal taxes unbelievably through the roof for February Watch

Image of Uncle Sam took in a lot of cabbage for the first few months of 2015. Why is the U.S. still trailing a momentous deficit, then?

By Catholic Online (NEWS CONSORTIUM)

Uncle Sam took in a lot of cabbage for the first few months of 2015. Inflation-adjusted federal tax revenues hit a record $1,185,613,000,000 in the first five months of fiscal 2015. Why is it that the U.S. federal government still ran a $386,537,000,000 deficit ... continue reading


Top 10 most financially important cities in the world Watch

Image of

By Hannah Raissa Marfil (NEWS CONSORTIUM)

New York City is still the most important center in the financial world, according to the latest ranking made by the Long Finance in The Global Financial Index 17. In the latest rankings, it was observed that more cities in Asia are becoming important within the world ... continue reading


Apple topples AT&T from Dow Jones in reflection of iPhone's dominant position Watch

Image of The move by S&P Dow Jones Indices had been widely anticipated since a seven-for-one stock split in June 2014.

By Catholic Online (NEWS CONSORTIUM)

Largest company in the world, Apple will join the Dow Jones Industrial Average to replace AT&T. The change reflects the dominant position of the iPhone maker in the U.S. consumer economy today. The figures tell the tale: Apple has a market capitalization of ... continue reading


'Underage Red': Sephora shocks consumers with inappropriately named lipstick shades Watch

Image of

By Hannah Raissa Marfil (NEWS CONSORTIUM)

With lipstick shades called "Underage Red" and "Lolita," the cosmetic retailer brand Sephora is under fire once again. Using names that refer to young girls being described in a sexualized manner, the lipstick shades grabbed the attention of shoppers, eventually ... continue reading


Oprah Winfrey sadly shuts down Harpo Studios forever Watch

Image of 61-year-old, Oprah Winfrey continues to play an active role in Hollywood, despite the ending of her talk show and now Harpo Studios.

By Abigail James (NEWS CONSORTIUM)

Oprah Winfrey is set to shut down production at her Chicago-based Harpo Studios by the end of 2015. After much thought, the billionaire mogul has decided production for her personal network OWN will be better done in Hollywood. LOS ANGELES, CA (Catholic Online) - The ... continue reading


SHINY, RED APPLE: Computer giant is now twice as big as world's second largest firm, ExxonMobil Watch

Image of Strong sales of the larger-screened iPhones resulted in the largest quarterly profit reported by a company, with device sales rising 29.5 percent in the final three months of 2014 to $74.6 billion,

By Catholic Online (NEWS CONSORTIUM)

How big is Apple? The creator of the iPhone and tablets is SO BIG that it is now currently twice as big as its second-closest rival, ExxonMobil. This is being reflected in the stock market, where shares in Apple jumped 2.7 percent at the start of the week to ... continue reading


WHERE IS YOUR MONEY GOING? Government collects $1 trillion from taxpayers - and there's still a deficit! Watch

Image of Where is all of our hard-earned money going?

By Catholic Online (NEWS CONSORTIUM)

Where is all of our hard-earned money going? Real federal tax revenues for the first time ever topped $1 trillion in the first four months of the fiscal year, October through January, according to data released Wednesday by the U.S. Treasury. LOS ANGELES, CA ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Acts 7:51--8:1
51 'You stubborn people, with uncircumcised hearts ... Read More

Psalm, Psalms 31:3-4, 6, 7, 8, 17, 21
3 You are my rock, my rampart; true to your name, ... Read More

Gospel, John 6:30-35
30 So they said, 'What sign will you yourself do, the ... Read More

Saint of the Day

Saint of the Day for April 21st, 2015 Image

St. Anselm
April 21: St. Anselm Archbishop of Canterbury and Confessor APRIL 21,A.D. ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter