October Jobs Report

Filed in National by on November 2, 2012

Via TPM:

The U.S. economy added 171,000 jobs in October, according to the Labor Department’s monthly jobs report. The unemployment rate is 7.9 percent.

Not sure I’m ready for more Republican conspiracy insanity.

Update from DD: This report beats expectations quite a bit, as the consensus expectation had been 121,000. Further, the report revises the previous two monthly reports adding another 84,000 jobs. This year’s average monthly gain is now 154,000, over what Nate Silver called “Obama’s Magic Number” of 150,000 jobs a month that he would need for reelection. Indeed, the U.S. economy under Obama in 2012 has now created over 3,000,000 this year. Guess what 3 million times 4 is? 12 million, exactly the number of jobs Mitt Romney promises to create in the next four years. So Mitt Romney is once again promising to deliver what President Obama is already delivering.

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A stay-at-home mom with an obsession for National politics.

Comments (9)

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  1. socialistic ben says:

    The way i understand “the new system”, it actually makes the gains/losses appear more modest.
    I dunno. I feel like little abby right now. I just want Bronco to win and we can all move on…. for a few weeks… then its 2016 speculation time.

  2. reis says:

    2016 Speculation: Christy heads the GOP ticket.

  3. Jason330 says:

    2016 Speculation: Christy trounced by Hilary Clinton.

  4. puck says:

    On the morning of Nov. 7 we begin an even harder fight.

  5. reis says:

    Does Hillary even want it?

  6. matchcheck says:

    If this year’s monthly average is 154,000 jobs/month, that’s only 1.54 million jobs for 2012 not 3 million (the year so far is only 10 months, but assuming that average holds up, that would be 1.848 million for 2012).

    Moreover, net job creation during Obama’s term is only 1.1 million.
    http://www.businessinsider.com/president-obamas-job-creation-claims-2012-11

    In fact, Obama has seen the smallest net job creation of any president since WWII.
    http://www.washingtonpost.com/blogs/the-fix/post/president-obamas-job-creation-problem–in-one-chart/2012/08/02/gJQA58tsRX_blog.html

    I don’t think either political party should be making any inaugural ball plans just yet.

  7. socialistic ben says:

    oh yeah? Is Gary Johnson going to have a big day on tuesday?

  8. Rustydils says:

    Not bad jobs report, I guess Obama’ S hope and change meant for the worse. Unemployment is only one tenth of a point worse than when he took office. I am not sure that Obama got the most bang out of his six trillion bucks

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