Gallup predicts jobless rate to jump higher
Gallup on Monday predicted the nation's unemployment rate will rise to between 9.7 and 9.9 percent in October.
Unemployment for September was 9.6 percent.
Gallup also predicted that October's unemployment rate will be held down because of people giving up looking for work.
"It is easy for potential workers to become discouraged when the unemployment rate is expected to remain above 9 percent through the end of 2011," it stated, adding its "employment data continue to reveal little good news for consumer spending, retailers or the unemployed as the holidays approach."
Also in time for the holidays is the expiration of emergency unemployment compensation. The benefits are slated to expire on Nov. 30 if lawmakers fail to extend them.
The next monthly unemployment report will be released on Nov. 5, three days after the mid-term election.
