Last month’s jobs numbers were certainly much needed good news, but a new report reminds us that we aren’t out of the woods yet. According to a new survey from Gallup, unemployment is hovering back around 9%:
Unemployment could rise back to 9 percent of the U.S. population in Feburary, 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.
This is a reminder to Democrats that they can’t take a month or two of decent economic news as a sign that Barack Obama will win re-election and they’ll re-take the House. Then again, this isn’t surprising given the predictions the Federal Reserve and the Congressional Budget Office recently made about the economy in the next couple of years.
And the reminder for Republicans is that this election is going to be a referendum on the economy; not contraceptives, abortion or other social issues that may come up over the next few months. So while these issues may play to the base of the GOP, most independent voters will simply roll their eyes at this in a general election.