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The Spectacle Blog
The economy added 151,000 jobs in October, according to the Bureau of Labor Statistics, widely surpassing expectations, though the unemployment rate held steady at 9.6 percent.
The private sector added 159,000 jobs, while the government shed 8,000. The BLS also reported that the economy lost 100,000 fewer jobs in August and September than previously reported.
The news came about a week too late for Democrats, but for Obama to recover politically by 2012, the economy will have to put together a long streak of job growth and help drive down the unemployment rate.
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More Blog Posts by Philip Klein
http://spectator.org/blog/2010/11/05/economy-adds-151k-jobs-unemplo
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Pete| 11.5.10 @ 10:13AM
Why would it help him recover politically? Seems pretty clear to me that he willfully extended the recession that would have naturally, cyclically ended long ago.
Bill Hussein O'Stalin| 11.5.10 @ 11:11AM
To make a dent in unemployment, 300,000 jobs a month are needed. The real story is that most of these jobs are minimum wage or not much more. That's actually contributing to a two year decline in real wages and that's the real problem.
The other side of the coin is that the federal government keeps passing laws that destroy management and white collar jobs. Even at that many minimum wage jobs are now going overseas so employers don't have to worry about the liability of hiring a woman making $9 an hour who can claim discrimination and win $20 million in a judgment.
Until Congress handles tort reform and stops gender and race special classes from built into each and every law there will be no growth.
Bill Hussein O'Stalin| 11.5.10 @ 11:11AM
To make a dent in unemployment, 300,000 jobs a month are needed. The real story is that most of these jobs are minimum wage or not much more. That's actually contributing to a two year decline in real wages and that's the real problem.
The other side of the coin is that the federal government keeps passing laws that destroy management and white collar jobs. Even at that many minimum wage jobs are now going overseas so employers don't have to worry about the liability of hiring a woman making $9 an hour who can claim discrimination and win $20 million in a judgment.
Until Congress handles tort reform and stops gender and race special classes from built into each and every law there will be no growth.