U.S. economy added 151,000 jobs in October

[LuciferSam]

This is of course due to the fact that the Republicans took back the house on Nov 2. They and the teabaggers are such an amazing bunch that they have the ability to alter the past. Or maybe it's that they have the ability to rewrite history and distort facts. Whatever, it's all good.

So now with the possibility of economic recovery looking more and more like a possibility, the R-gang comedians have to decide how to play this. Do they do everything in their power to encourage recovery, or do they try to subvert it. If they encourage it, they will have to find a way to get credit for it. This will involve a heavy dose of revisionist history and fact distortion. I think they will try to subvert it. This is an easier task, as it will merely require that they block any of President Obama's attempts at fiscal stimulus. They now have the horses to do that, however there is just one problem.

The problem is, what are the Repubs going to do about the Federal Reserve? The fed has the ability and nearly unrestricted freedom to stimulate the economy. In short they have the ability to ensure that Obama becomes a two term president. It will be quite a hoot to see these free-market laizezz faire capitalist conservatives attacking the Fed. That can't possibly do anything to help their image, and does nothing but bring out their true colors as a power hungry mob intent on gaining power and noting more. They care nothing about the well-being of the average citizen.

 

[Will B]

Thank God...9.6% unemployment. All is right with the world now that 151,000 seasonal jobs have been added to the workforce.

I don't expect any true trends to emerge until after the first of the year...

 

[LuciferSam]

It's 90,00 more jobs than analysts predicted. I'm not trying to scare away the factophobes, but check this out: U.S. Jobs Up 151,000; Unemployment 9.6 Percent : NPR

The bottome line is that this is encouraging. the bottom line is also that economic recovery no matter how you want to spin it or give credtit to, helps the sitting president.

 

[30ashopper]

What side of the stimulus produced these jobs you seem so proud of? The shorter term demand side, or longer term supply side, both, neither?

My hope would be that both sides promote policy they feel will improve on what has been flat line, under par employment growth over the last nine months.

 

[LuciferSam]

What side of the stimulus produced these jobs you seem so proud of? The shorter term demand side, or longer term supply side, both, neither?

My hope would be that both sides promote policy they feel will improve on what has been flat line, under par employment growth over the last nine months.

I don't know if I'm proud of it, partly because I can't take credit for it. It's got nothing to do with pride anyway. It has to do with reality, acknowledgement of which is not a Republican strong point. We are where we are and the situation is much improved over where we stood during the descendence into economic hell known as the Bush administration. At this point, an ecomomic recovery is a Republican's/Bagger's worst nightmare. Sweet dreams.

 

[30ashopper]

In trying to answer that, it's useful to look at where the jobs were added:

Within professional and business services, employment in temporary
help services continued to increase in October, with a gain of 35,000.
Temporary help services has added 451,000 jobs since a recent low in
September 2009. Employment in computer systems design and related ser-
vices increased by 8,000 in October and has risen by 53,000 since a
recent low in June 2009.

Health care continued to add jobs in October (+24,000). The gain was
in line with the average increase over the prior 12 months (+20,000).

Retail trade employment rose by 28,000 in October, including increases
in automobile dealers (+6,000) and in electronics and appliance stores
(+5,000). After reaching a trough in December 2009, employment in re-
tail trade has expanded by 128,000.

Within leisure and hospitality, a job loss in arts, entertainment, and
recreation (-26,000) in October offset a gain in food services and
drinking places employment (+24,000). The food services industry has
added 143,000 jobs since a recent low in December 2009.

Mining employment continued to trend up (+8,000) over the month. Since
a recent low in October 2009, mining has added 88,000 jobs.

Employment in manufacturing changed little in October (-7,000) and, on
net, has essentially been flat since May. The industry had added
134,000 jobs during the first 5 months of this year.

Elsewhere in the private sector, employment in construction, wholesale
trade, transportation, information, and financial activities showed
little change in October.

temporary help: 35K
tech: 8K
health: 24K
retail: 28K
leasure: -26K
mining: 8K
manufacturing: -7K

 

[AlphaCrab]

In trying to answer that, it's useful to look at where the jobs were added:



temporary help: 35K
tech: 8K
health: 24K
retail: 28K
leasure: -26K
mining: 8K

manufacturing: -7K

thanks for the breakdown. I really wish this country could get on a path of making things again! Guess that is not possible as long as the "U.S. Chamber of Commerce's" goal is to export more U.S. jobs, ironic huh?

 

[Matt J]

Here's job creation from 1994-2010:

Notice: Data not available: U.S. Bureau of Labor Statistics

 

[Elephant Child]

This is of course due to the fact that the Republicans took back the house on Nov 2. They and the teabaggers are such an amazing bunch that they have the ability to alter the past.

Perhaps the job increase is due to the # of people that were needed to travel with the Obamas on Their Asia vacation (no strike that) their Asia Economy Building Trip.

 

[futurebeachbum]

This is of course due to the fact that the Republicans took back the house on Nov 2. They and the teabaggers are such an amazing bunch that they have the ability to alter the past. Or maybe it's that they have the ability to rewrite history and distort facts. Whatever, it's all good.

This is nothing new. I remember hearing a newscast on the radio the day after Bill Clinton was elected in 92 and the lead off line was "Now that Bill Clinton has been elected President the economy has begun improving". Then they proceeded to give the September economic numbers which had just come out.