Friday, November 2, 2012

Jobs report positive as election day nears

Posted By on Fri, Nov 2, 2012 at 9:36 AM

Better than a sharp stick in the eye (NYT) four days before election day.

In the last assessment of the job market before the presidential election, the Labor Department announced Friday that the nation’s employers had added 171,000 positions in October, as well as more jobs than initially estimated in both August and September.

The unemployment rate ticked up slightly to 7.9 percent in October, from 7.8 percent in September, as more workers joined the labor force.

The report showed persistent but modest improvement in the American economy, and broad-based gains in every industry except the government. It was based on surveys conducted too early in the month to capture the work stoppages across the East Coast from Hurricane Sandy.

Stock markets opened up on the news.

Things are getting better, if slowly. Fox and the Republican Party of Arkansas will respin this for you shortly. They hate good news for America.

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