Tomorrow is the first Friday of the month, when unemployment numbers get released. This morning, Gallup released the results of its survey. It announced that,
U.S. unemployment, as measured by Gallup without seasonal adjustment, was 7.8% for the month of November, up significantly from 7.0% for October. Gallup’s seasonally adjusted unemployment rate is 8.3%, nearly a one-point increase over October’s rate.
The article went on wonder how the unemployment rate could have possibly risen again in November, after dropping right before the November Election. It speculated “superstorm Sandy” or “lackluster holiday hiring is to blame”.
Of course, it certainly couldn’t be related to the re-election of President Obama or the fiscal cliff now, could it?
Update: Unemployment drops to 7.7% — specifically, and only, because more than 500,000 workers dropped out of the workforce entirely.