Gallup finds us at 8.3% unemployment which is up from 7.8% in November.
Gallup’s seasonally adjusted unemployment rate — the closest comparison it has to the official numbers released by the U.S. Bureau of Labor Statistics — increased in November, suggesting that the BLS will report another increase when it releases its numbers Friday. It is possible that some of the November increase in unemployment is the result of scaled-back holiday hiring, in which case the BLS may apply a smaller adjustment factor than it has in the past.
Remember Obama’s projection for unemployment after the Stimulus package? A reminder.
As a result, the unemployment rate at the end of President Barack Obama‘s term in 2013 will be just 5.2%, according to the White House. The rate currently sits at 7.6%, and many economists expect it to climb past 9% before the recession ends. A report Thursday showing jobless claims at a 26-year high supports the more pessimistic forecasts, at least in the short run.
And about the deficit…
Now he says new taxes will solve our problems. And to think some believe him.