Gallup Finds U.S. Unemployment Rate Plummeting
New data from Gallup affirms official government statistics, showing that the unemployment rate is dropping sharply. Gallup's data finds that unemployment has declined from 7.9 percent in late September to 7.3 percent in mid-October, the lowest since Gallup began collecting data in January 2010.
Take a look below. Will this put an end to the conspiracy theories among Jack Welch and other Mitt Romney supporters?
WASHINGTON, D.C. -- U.S. unemployment, as measured by Gallup without seasonal adjustment, is 7.3 percent in mid-October, down considerably from 7.9 percent at the end of September and at a new low since Gallup began collecting employment data in January 2010. Gallup's seasonally adjusted unemployment rate is 7.7 percent, also down from September. October's adjusted mid-month measure is also more than a percentage point lower than October 2011.
These results are based on Gallup Daily tracking surveys conducted by landline and cell phone with more than 30,000 U.S. adults from Sept. 16-Oct. 15. Gallup's seasonally adjusted unemployment rate incorporates the .04 upward adjustment used by the U.S. Bureau of Labor Statistics in October of last year. The adjustment for September was an increase of .02, which explains the .04 drop in seasonally adjusted employment despite the .06 decline in the unadjusted number.
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Pam is the editor-in-chief of AOL Jobs.