GALLUP: The number of people who are unemployed or underemployed has begun to rise for the first time since last spring. This may be a sign that the economic slowdown that began sometime in the second quarter has begun to have a substantial impact on the jobs market. Recent Labor Department monthly unemployment statistics have indicated that the jobs market expanded very slowly through the summer.
Second quarter GDP was under 2% and many economist believe that the economy will do no better than that in the last half of the year. Concerns about a “double dip” recession may have caused a large number of American companies to curtail programs to add new workers.
The latest Gallup employment poll shows that “Unemployment increased to 9.4% in mid-September from 9.3% in August and 8.9% at the end of July. This finding makes it far more unlikely that there will be a significant decline in the U.S. unemployment rate prior to the midterm elections.” Total underemployment, which includes those out of work and those who work part-time by seen full-time jobs, is now 18.9%… (more)
