Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

3/8/2012 (3 years ago)

Catholic Online (

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.


By Catholic Online (NEWS CONSORTIUM)

Catholic Online (

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 October 2015
That human trafficking, the modern form of slavery, may be eradicated.
Evangelization: That with a missionary spirit the Christian communities of Asia may announce the Gospel to those who are still awaiting it.


More Business & Economics

Overworked Wall Street employees experience seizures, are hospitalized, and have died Watch

Image of John Hughes in Thomas' bedroom (Damon Winter).


Wall Street has always been a very demanding place to work and with recent work-related deaths, it seems that Wall Street must find a way to provide work-life balance to its employees.  NEW YORK CITY, NY (Catholic Online) - Thomas Hughes was a 29-year-old ... continue reading

7 ways to bring your family out of debt Watch

Image of


There are a lot of ways the improper handling of finances can jeopardize you and your family. The cost-of-living continues to get higher yet your income doesn't. How can you make ends meet? LOS ANGELES, CA (Catholic Online) - Fear not! You can regain control of your ... continue reading

3 easy ways to save money and pay off debt Watch

Image of


Work and play, earn and spend -It's the way the economy survives, but what about your survival? If you're having trouble saving money, don't have a dedicated savings account or just don't know how to stop spending, you may have a problem. LOS ANGELES, CA (Catholic ... continue reading

Is the stock market in trouble? Historical market turndowns following papal visits Watch

Image of Papal visits versus the stock market were reviewed.


As Pope Francis visits the United States, historical data of visits from his predecessors to the United States were linked to several market downturns in the US. MUNTINLUPA CITY, PHILIPPINES (Catholic Online) - Pope Francis made his historical visit to the United ... continue reading

Construction of high-speed rail between L.A., Las Vegas approved by U.S., China Watch

Image of Signed before Chinese President Xi Jinping's state visit to the U.S., the project is a milestone in China's efforts to market its high-speed rail technology in advanced economies.

By Catholic Online (NEWS CONSORTIUM)

A joint venture to build a high-speed railway linking Las Vegas and Los Angeles has been agreed upon. The project will be the first Chinese-made bullet-train project in the U.S. LOS ANGELES, CA (Catholic Online) - XpressWest Enterprises LLC, along with a China ... continue reading

PENDING FED DECISION: U.S. may be due for the first rate hike in 10 years Watch

Image of A relative

By Catholic Online (NEWS CONSORTIUM)

The Federal Reserve may have to make a very hard decision shortly. "If the Open Market Committee takes the plunge, it will be the first US rate hike in nearly 10 years," Telegraph columnist Jeremy Warner says. LOS ANGELES, CA (Catholic Online) - It will be the ... continue reading

Bear market looms, Yale University market scholar warns Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

There is widespread concern that U.S. stocks are overvalued, which will lead to a ferocious bear market unseen since the "Dot-com" bubble burst in 2000. According to research by Yale University market scholar and Nobel economics laureate Robert Shiller, while ... continue reading

Job participation rate in U.S. at 38-year low Watch

Image of According to Bureau of Labor Statistics, the nation's civilian non-institutional population - which means that all people 16 years of age or older who were not in the military or an institution -- reached 251,096,000.

By Catholic Online (NEWS CONSORTIUM)

Americans not participating in the labor force jumped by a whopping 261,000 more in August than there was in July. The participation rate in U.S. labor remained at 62.6 percent, a 38-year low, for a third straight month in August. These are "cheerful" ... continue reading

Islamic State attempts to replace the U.S. dollar with gold coins Watch

Image of A five denar piece featuring a picture of seven wheat stalks, representing the

By Kenya Sinclair (NEWS CONSORTIUM)

The Islamic State has announced it will be producing gold currency with the goal of weakening the dollar. LOS ANGELES, CA (Catholic Online) - A video posted Saturday, August 29th by the Islamic State warns that replacing the dollar will be "the second blow to America's ... continue reading

Art collectors seek liquidity as market plummets Watch

Image of Picasso piece auctioned for a record $179.4 million.


Inquiries about art loans reportedly increased after global equities plunged. The unfortunate event led many to view their collections as assets and investment to cash-in.  MUNTINLUPA, PHILIPPINES (Catholic Online) - Bloomberg Business reports many collectors and ... continue reading

All Business & Economics News


Newsletter Sign Up icon

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

Subscribe to Catholic OnlineYouTube Channel

Daily Readings

Reading 1, Romans 1:16-25
16 For I see no reason to be ashamed of the gospel; ... Read More

Psalm, Psalms 19:2-3, 4-5
2 day discourses of it to day, night to night hands ... Read More

Gospel, Luke 11:37-41
37 He had just finished speaking when a Pharisee ... Read More

Saint of the Day

Saint of the Day for October 13th, 2015 Image

St. Edward the Confessor
October 13: Edward the Confessor was the son of King Ethelred III and his ... Read More