The latest Gallup tracking survey on US unemployment puts the unadjusted US unemployment rate at 8.1% in August, down from 8.2% in July, and sharply down from 9.2% in August of 2011. On a seasonally adjusted basis, the Gallup survey puts the August unemployment rate at 8.1%, up from an adjusted rate of 8% in July.
The underemployment rate remained flat in August, at an unadjusted rate of 17.1%, equal to July’s reading and the lowest number Gallup has recorded since it began its tracking survey in 2010. The number of part-time workers seeking full-time employment rose slightly to 9% in August, down from 9% in August 2011.
The percentage of workers with full-time employment for an employer remained near July’s all-time high of 66.6% at 66.5%. The workforce participation rate rose from 67.6% in July to 68.1% in August. Last August the participation rate was 67.4%.
Gallup concludes that tomorrow’s report from the Labor Department on non-farm payrolls will remain flat at best, showing a US unemployment rate of 8.2%. The survey concludes:
The decline in unemployment seen earlier in the year has not been sustained, with unadjusted unemployment flat over the past three months. Although there is no longer a net loss of jobs, employers are not adding enough jobs to dramatically reduce the unemployment rate.
Paul Ausick
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
