As of now, I am in control here, in the White House

Economy Continues to Add Jobs

The U.S. economy added 214,000 jobs last month, the Labor Department reported today, slightly below expectations but still at a decent pace which suggests demand for labor continues to grow.

The unemployment rate fell a tenth of a point to 5.8 percent, while job gains for the prior two months rose 31,000, with the new September number coming in at 256,000 and the August tally at 203,000 jobs added.

The labor force participation rate remains at historic lows, however, rising just a tenth of a point to 62.8 percent, suggesting many still are not looking for work either because they are discouraged or they’re getting enough benefits elsewhere. By a separate measure, the number of unemployed workers, discouraged workers, and those unwillingly working in part-time jobs fell three tenths of a point to 11.5 percent in October.

Pay increases also are basically stuck, with the average hourly wage rising only 3 cents to $24.57, just two percent over a year ago, which is about where inflation is.

Swamped just a few days ago by the Republican tide, the White House today performed a little victory dance.

“With today’s report, the unemployment rate is falling as fast as at any point in the last thirty years, and the economy is on pace for its best year of job growth since the late 1990s,” said Council of Economic Advisors Chairman Jason Furman.

25 Responses to Economy Continues to Add Jobs

  1. I don’t believe those numbers or any from this group. I can almost hear the “books” simmering. Someone on MSNBC — !! — said everyone knows someone unemployed.

  2. It’s akin to bragging about the budget deficit being down to “only” $450″ billion or so and not bothering to mention that he (O) ran them up to over a TRILLION to start with!
    The only way Democrats still hold any office anywhere is through their own lying and the media happily repeating them over and over and over to a dumber and dumber and dumber public.

    • Here I go back to the food prices again. All those wonderful “part-time” lower paying jobs to take care of FOOD prices than all your other needs.

    • He tripled the budget deficits and it wasn’t until the sequester and huge tax revenues brought it down. It’s still $20-30B higher than when Bush left office.

  3. What kind of jobs are they talking about and how many of them were taken by Illegal Aliens? This economy is down right brutal for the younger generations. I would trust these numbers!

  4. I heard some pundit sniff that only illegals would hang drywall. I know two people personally who hang drywall–yes, it’s a heavy lifting, hard job and they are glad to do it day in and day out.

    • I have helped hang drywall…and siding. I have shucked shingles. I have worked as hard as any man because, for a time, if I wanted to eat, I had to work as hard.
      It is hard, physical labor – hard, physical labor.
      And these snotty, sniffy panty waists in DC or NY would not last one minute. Believe me…not one minute. I barely lasted myself.

  5. Just about every strip mall out here in AZ has empty spaces–like gaps in teeth. This means no jobs in those former stores and that is probably because not enough people had a job with an income to go those stores or the owner could not get a loan…it’s the old dominoes and it is still bad!

    • Just think what would happen if all those small businesses had to pay a $15.00 min wage. And the dominos keep falling.
      I’m not even a business major & I can see that.