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.
- US economy adds 171,000 jobs (bigpondnews.com)
- Economy adds 171,000 jobs in October (bostonherald.com)
- US economy adds 171,000 new jobs (bbc.co.uk)
- U.S. Adds 171K Jobs In October: What It Means For Obama And Romney (forbes.com)
- October jobless rate is 7.9 percent: 171,000 jobs created. Good news for Obama (blogs.suntimes.com)
- Job Growth Better Than Expected Last Month (politicalwire.com)
- SPECIAL REPORT: “171 Thousand Jobs Added in Last Jobs Report Before Election, Unemployment Rate 7.9%” (marketsnacks.com)
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 Barack Obama, employment, Mitch McConnell, Republicans, September, unemployment, United States, United States Department of Labor. Bookmark the permalink. Comments Off on Employment growth picks up in October with addition of 171,000 jobs.