Outside of the federal government's Bureau of Labor statistics, the Gallup polling organization also tracks the nation's unemployment rate. While the BLS and Gallup findings might not always perfectly align, the trends almost always do and the small statistical differences just haven't been worthy of note. But now Gallup is showing a sizable 30 day jump in the unemployment rate, from 7.7% on July 21 to 8.9% today.
This is an 18-month high.
At the end of July, the BLS showed a 7.4% unemployment rate, compared to Gallup's 7.8%. Again, a difference not worthy of note. But Gallup's upward trend to almost 9% in just the last three weeks is alarming, especially because this is not a poll with a history of wild swings due to statistical anomalies. Gallup's sample size is a massive 30,000 adults and the rolling average is taken over a full 30 day period.
Gallup also shows an alarming increase in the number of underemployed (those with some work seeking more). During the same 30-day period, that number has jumped from 17.1% to 17.9%.
The blue line on the chart below shows unemployment rate when you count all those in the civilian labor force who are unemployed and who are employed part time but need full time plus all those who have been bumped from the labor force but need employment.
Note it does not contain information about those who are under employed in that they are not in a job that matches their experience and education, e.g. an experienced STEM workers bagging groceries, something I personally saw at a local food chain.