Patters

Uh oh, time for the spin.

Gallup Finds Significant Drop in Unemployment During October

Unemployment, as measured by Gallup without seasonal adjustment, was 8.3% for the 30 days ending Oct. 23 -- down sharply from 9.0% for the 30 days ending Sept. 4. Over the same period last year, Gallup's U.S. unemployment rate was steady or increasing, suggesting the lower unemployment Gallup has measured in recent weeks is not fully the result of seasonal hiring patterns. As a result, the government next week is likely to report a seasonally adjusted October unemployment rate of less than 9.0%.

khayos

Great news, I was afraid Obama had driven us too far off the cliff. Still think the Dow is out of synch with reality.

DarrylS

I think all of Wall Street is living in a parallel universe..

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Ilikehappyppl

Good news!

Hope it keeps falling, 5-6% would be very nice!

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PatriotsReign

We will have 7-9% unemployment for a few more years. There is just too much wrong with the economy for anything to turn around in a year (for example).

Real estate is a mega employer in this country when homes are selling. And real estate will be messed up for another 4-5 years.

I wish this was worth getting excited about, but it isn't.

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Wolfpack

The fact that a liberal is excited over an 8.3% unemployment figure (published by an unofficial source) shows just how abysmal of a failure the crackhead in chief really is and how low their expectations are for him.

What's next? Doing cartwheels if gas gets below $3.25?

PatriotsReign

The Gallup poll does not factor in seasonal employment, so the number is totally bogus. Retailers start hiring seasonal employees for Halloween right through the Christmas season. They are not gainfully employed, so they don't count. They'll be back out of work January 1st.

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"No one walking this earth knows what is truly righteous"

IcyPatriot

This is true and they do say later that the real number is just below 9%.

Patters should have looked furthur because the 3rd graph was the best graph and it's great to see - this is a trend in the right direction. We have a long way to go but we're pulling out of it slowly which bodes better for a decent recovery without sharp swings in other areas.

The Brandon Five

Let's hope it continues.

patsfan13

It would be nice, however I follow this number closely for my work, the number of new unemployment claims has been at 400k/week all month. When the non farm payroll and ADP number are released next Thursday and Friday it will be a better indicator.

This number seems optimistic.

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