More Good News For The President: 171,000 Jobs Created In October
The October jobs report was released this morning, and it is good news for President Obama. Last month the economy added 171,000 jobs, higher than most estimates, the 34th consecutive month of private sector job growth under President Obama. The unemployment rate remained under 8%, though it increased by 1/10 of a point - but that, too is good news, since the increase in the rate is because over half a million Americans re-entered the job market.
Article excerpt follows:
171,000 Jobs Created In October, Unemployment Stays Under 8 Percent
The American economy added 171,000 jobs in October and the unemployment rate ticked up slightly but stayed below 8 percent, according to the latest data from the Bureau of Labor Statistics. Analysts had expected 120,000 jobs to be created. The unemployment rate increased due to the labor force adding 578,000 people. The private sector added 184,000 jobs, while the public sector lost 13,000. The number of jobs created in August was revised up from 142,000 to 192,000, and September was revised up from 114,000 to 148,000. The wider U-6 measure of underemployment fell slightly to 14.6.
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