US Unemployment Rate 2012: Latest Gallup Report Shows Rate Down in September

The U.S. unemployment rate slightly decreased in the month of September according to the latest Gallup report. The report, which was released on Thursday, revealed that the unemployment rate fell to 7.9 percent, down slightly from the 8.1 percent in August.

The results are based on Gallup Daily tracking interviews and are not measured with seasonal adjustments. Gallup noted that it's seasonally adjusted September unemployment rate remained at 8.1 percent. According to Gallup, calculations of a seasonally adjusted unemployment rate are found by "applying the adjustment factor the government used for the same month in the previous year."

September's unadjusted 7.9 percent rate is the lowest recorded by Gallup since January 2010, it said. The results show a steady decline from the 8.6 percent recorded in September 2011.

Gallup's report also revealed that underemployment in September reached a record low since 2010 with a 16.5 percent rate. The September reading demonstrates a two-point improvement from September 2011, when underemployment was recorded at 18.3 percent.

According to Gallup, the decline in underemployment was a result of a decline in unemployment and the number of part-timers wanting full-time work. The improvement from September 2011 (9.7 percent) for part-timers looking for full-time work to September 2012 (8.6 percent) is "a positive sign that part-timers are finding the full-time work they desire," Gallup said.

Gallup noted that despite the improvements in the employment numbers, only 42 percent of the underemployed remain hopeful they will find full-time jobs they want within the next four weeks. The polling institute also stated that the despite the decline in unemployment in September, the unemployment rate has remained largely steady since May.

The results released by Gallup reveal no major changes in the unemployment rate and may lead Americans to feel that there will be no improvements in the near future, the polling institute said. It also reported that the unemployment rate may remain unchanged when the U.S. Bureau of Labor Statistics releases its job report on Friday.