Remember the big hubbub last month about how Gallup's unemployment survey showed a big month over month increase, so the February employment report was going to be awful?
Well, check out what Gallup's employment report said today:
U.S. unemployment, as measured by Gallup without seasonal adjustment, declined to 8.4% in March from 9.1% in February, while Gallup's seasonally adjusted rate fell to 8.1% from 8.6% in February.Contrast that with the much smaller decline in March of last year:
Gallup trends show the U.S. unemployment rate declining dramatically over the past year.
Gallup's seasonally adjusted unemployment rate was essentially unchanged at 8.5% in mid-March from 8.6% in February, but then fell to 8.1% for all of March
Unemployment, as measured by Gallup without seasonal adjustment, was 10.0% in March -- down from 10.2% in mid-March and 10.3% at the end of February.
That's a 0.7% unadjusted month over month decline this year vs. a 0.3% month over month decline last year. And a full 1.9% lower year over year.
Given how important the Gallup report was for the Doomers last month, I'm sure they'll be all over highlighting it again this month.