US Payroll to Population rate rises to 45.7% in October
By Ben Tyrer
Gallup’s US Payroll to Population rate has risen to 45.7% in October, the highest that it has ever been.
The rate is used to measure how many Americans over 18 are employed full time for at least 30 hours per week.
However, the rate does not include workers who are self-employed or work part-time.
In a statement on the site, Gallup said: “Gallup has studied employment worldwide for the last three years, and has shown that P2P is much more predictive than unemployment of a country’s economic health and the wellbeing of its citizens.”
Gallup has been measuring the Payroll to Population rate since 2010.
It had dropped to 45.1% in September, but this quick rise will be a welcome boost for President Barack Obama’s reelection bid.
Yesterday, the US Department of Labour revealed that unemployment rates had raised by 0.1%.
However, the report had also stated that 171,000 jobs had been created in October.
With only three days before the election, both candidates now have figures to back their case in the race for the White House.