This is surprising, and intriguing, though we’re not going to get our hopes up too much…
According to polling firm Gallup, which does its own unemployment surveys, the jobs situation is improving massively.
Unemployment, as measured by Gallup without seasonal adjustment, is 8.3% in mid-October — down sharply from 8.7% at the end of September and 9.2% at the end of August. A year ago, Gallup’s U.S. unemployment rate stood at 10.0%. While seasonal hiring patterns may explain some of this improvement, the drop suggests the government could report an October unemployment rate of less than 9.0%.
Even though the month isn’t over yet, Gallup says its data collection period is the same as the government’s.