Bureau of Labor Statistics Unemployment Data:
The U.S. Bureau of Labor Statistics (BLS) released the Unemployment numbers today. According to the government agency the current “Seasonally Adjusted Unemployment rate is 6.7% up slightly from January’s 6.6%. The unadjusted unemployment rate was unchanged at 7%. The broadest measure of unemployment which includes discouraged workers called U-6 was at 13.1% down from 13.5% last month.
Gallup Unemployment Data:
Amid concern about the reliability of the BLS numbers, four years ago, Gallup Poles decided to begin tracking unemployment numbers themselves. So we have an alternative to the Government numbers. According to Gallup the adjusted unemployment rate is 7.6% and the Unadjusted unemployment rate is 8.0%. But the real difference comes with the U-6 which Gallup calls the “Underemployment rate” at 17.5% it is a full 4.4% higher than the government sanctioned numbers. [Continue reading]