Unemployment to Jump Back up to 9 Percent?

Posted: Feb 22, 2012 8:23 AM

According to the Hill and Gallup, it's a serious possibility.

Unemployment could rise back to 9 percent of the U.S. population in February, according to a Gallup survey released Tuesday, painting a grim picture for the Obama administration, which had been temporarily buoyed by promising jobs figures at the end of January.

Gallup's mid-month reading, which traditionally previews the government report issued at the end of the month, shows a rise of seven-tenths of a percentage from the 8.3 percent unemployment rate at the end of January. That would be the worst unemployment figure since September of last year.

The survey firm said seasonal factors — including job loss by seasonal workers hired over the holidays — could be responsible for the dip.

"Regardless of what the government reports, Gallup's unemployment and underemployment measures show a sharp deterioration in job market conditions since mid-January," the firm said in a statement accompanying the release of the data.

Gallup also found that 10 percent of American workers have part-time positions despite wanting full-time work.

"The mid-February reading means the percentage of Americans who can only find part-time work remains close to its high since Gallup began measuring employment status in January 2010," the polling firm said.

But don't worry, the economy is improving...

President Barack Obama says the U.S. economy is growing stronger and the economic recovery is speeding up.

Want to learn more about the White House manipulation of unemployment numbers? Make sure you read Guy's post from a few days ago. Also, 9 percent is a low number. The real unemployment rate sits around at least 15 percent.