U.S. unemployment, as measured by Gallup on a preliminary basis without seasonal adjustment, declined to 8.2% in mid-April from 8.4% in March. However, the government’s likely seasonal adjustment of 0.3 percentage points leads to a Gallup seasonally adjusted U.S. unemployment rate of 8.5% in mid-April, up from 8.1% last month.
Folks, please don’t drink the Kool-Aid and believe this 8.4% figure. It doesn’t count the many people who have dropped off the unemployment rolls and still cannot find a job.