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Gallup Unemployment: 8.6 Percent



America’s unemployment rate is 8.6 percent according to the pollsters at Gallup – or 1.2 percentage points higher than the federal government’s official data (the latest installment of which is set to be released tomorrow).

That’s the highest seasonally adjusted rate since 2011. Meanwhile Gallup charts the seasonally adjusted “underemployment rate” – a broader, more accurate measure of joblessness – at 17.2 percent.

Gallup’s employment measure – released daily – is taken from a “30-day rolling averages based on telephone interviews with approximately 30,000 adults.” Data from the federal government is released monthly and based on a poll of approximately 60,000 households.

“In a word: it is not pretty,” our friends at the website Zero Hedge report.

Actually that’s four words, but whatever …

Here’s a chart showing how the Gallup data varies with the numbers released by the U.S. Bureau of Labor Statistics (BLS) …

gallup v bls

Yikes …