The U.S. Bureau of Labor Statistics (BLS) released the June Unemployment figures on July 3rd. The Seasonally Adjusted Unemployment Rate was 6.1% down from 6.3% in May. The Unadjusted Unemployment rate was the exact opposite 6.3% in June and 6.1% May. So was the unemployment rate up or down?
According to the Gallup poll people both adjusted and unadjusted were down. The unadjusted rate was 6.8% down from 7.0% in May and the adjusted unemployment rate was 6.5% down from 7.2% in May. As we can see from the chart to the left for almost a year now Gallup numbers have diverged drastically from the BLS numbers by roughly a full percent. but this month the divergence narrowed a bit to “only” 1/2 percent. For more information see:
U-6 includes all classes of unemployed even those considered “marginally attached” and/or part-time for economic reasons. In other words, those who [Continue reading]