Of course, this won’t be official until November 5th…three days after the election:
Unemployment, as measured by Gallup without seasonal adjustment, is at 10.0% in mid-October — essentially the same as the 10.1% at the end of September but up sharply from 9.4% in mid-September and 9.3% at the end of August. This mid-month measurement confirms the late September surge in joblessness that should be reflected in the government’s Nov. 5 unemployment report.
The thing this most clearly shows is that unemployment is rising – and rising pretty fast. I’m betting that the Bureau of Labor Statistics has fudged the numbers over the past few months to keep the official rate below 10% for the election, but once that is past they’ll have to put their numbers back in line with reality. Expect a pretty hefty bump in the unemployment number on November 5th.
We’re spiraling downwards – Obama’s policies have failed. The next Congress will have to get a grip on this by slashing spending, retaining the Bush tax cuts and generally making things so that wealth can be created.
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