Employment growth picks up in October with addition of 171,000 jobs

Today the Government released the October Labor Statistics and we see that employers have added a larger-than-expected 171,000 jobs in October across a broad spectrum of businesses. In this, the  final snapshot of the economy before election day, we have an interesting picture of job growth… more than double what it was in September.

Unfortunately, the nation’s unemployment rate rose to 7.9% from 7.8% in September. This was because more people jumped back into the labor market, including a very large group of 18-year old first time workers. This, of course, is a positive sign that workers may be feeling more confident about their job prospects.

The new Labor Department report, which also revised sharply higher job growth in September and August, may give a boost to President Obama, who continues with a slow but positive economic growth. There is still enough information for the undecided to support Obama who has kept us going even though Mitch McConnell and his Republicans have worked overtime to keep Obama’s Job Creation proposals and other forward moving activities from passing or getting any Congressional support. It’s interesting that Obama has gotten as far as he has… and it is even more interesting how little the Republicans have been concerned with helping to relieve our economy.

 

About btchakir

Retired Theatre Producer, Graphic Designer, Usability Tester and General Troubleshooter with a keen interest in Politics and The Stage. Currently heard on WSHC, 89.7 FM (on line at www.897wshc.org) and occasionally dabbling in Community Theatre.

Posted on November 2, 2012, in Announcement, Books, budget, Business, campaign, Congress, Corporations, Economics, election, ethics, government, Job Seeking, Legal, News, Opinion, Politics, President Obama, vote, Word from Bill and tagged , , , , , , , . Bookmark the permalink. Comments Off on Employment growth picks up in October with addition of 171,000 jobs.

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