Loading ...U.S. employers added 171,000 jobs in October, and hiring was stronger in August and September than first thought. The solid job growth showed that the economy is strengthening slowly but consistently.
The unemployment rate rose to 7.9 percent from 7.8 percent in September, mainly because more people began looking for work. The government uses a separate survey to calculate the unemployment rate, and it counts people without jobs as unemployed only if they're looking for one.
Friday's report was the last major snapshot of the economy before Tuesday's elections. It's unclear what political effect the report might have. By now, all but a few voters have made up their minds, particularly about the economy, analysts say.
Since July, the economy has created an average of 173,000 jobs a month. That's up from 67,000 a month from April through June. Still, President Barack Obama will face voters with the highest unemployment rate of any incumbent since Franklin Roosevelt.
Please leave a comment below with your thoughts.
Every Success,
Jeremy
I am glad election day is right around the corner. The bickering is getting old quickly.
Don't give up now or your freedom will lost. its more than the economy. certainly, we are deeply submerged in debt. This will continue if Obama stays in office. We will be severely taxed with BOH.
He needs to go out. Economy will prosper with Mitt, he will create a new and prosperous America.
Juan
The Bureau of Labor Statistics[1] and Wall St. Journal[2] disagree with Juan. Could his purpose be not what he preaches? (Viva Batista!)
1. http://www.barackobama.com/jobsrecord
2. http://blogs.wsj.com/economics/2012/11/02/tallying-president-obamas-jobs-record/
"Propaganda does not deceive people; it merely helps them (aggrieved or comfortable) to deceive themselves." - Eric Hoffer
Why do we always blame other people? We always blame the government for the unemployment but have we paused for a while and asked ourselves, what did we do for our country? In our own ways, each one of has its own capacity and skills to contribute to the country. Even if it is the smallest thing on earth, we can always be part of a better country. Now we must really stop blaming the government, stop negativity and pursue for positivity and solution.
If we want to create to change in our country, then it has to start with ourselves. We should stop blaming the government and start managing our lives. Pointing to other people of what we do not have should not be an excuse in blaming other people instead this should be our guide to be motivated, work hard and get what we wanted in life. In any field, getting a job or whatever thing we need in life, we should have a positive mindset + positive action = positive result.
true, but idealistic and naive...and not sufficient to provide the environment within which prosperity emerges.
I couldn't say who will create more jobs because there are going to be a whole lot less jobs no matter who gets in. Obama basically is better for the people who struggle and Mitt R is better for the rich requiring tax cuts. He is also a loose cannon for global politics, and the precarious state in the middle east. All the things he says he can and will do have not been supported by one suggestion as to how he will do it. Fact is he realizes the mess the last several administrations got the country into but can't say that of course. I do agree in his stance on letting the cars peddlers go broke rather than bail them out. We must stop the bail outs before anything in the economy gets better. Bail outs just stall the inevitable and make the following recovery slower and more difficult. During the oncoming recession / depression it will be Obama who the most appropriate to lead the country for those that will suffer most.
To melcrash (and more respectfully, Chalzer): At a recent taping of American Public Media's Marketwatch, I asked an econ. prof. on the panel how he would explain the split among Nobel Prize-winning economists as to whom they endorse -- those seeking maximum returns for large private investments (Scholes, et al [recall, Scholes created and crashed a hedge fund]): Romney; vs. small investors and public investments (Krugman, et al): Obama. He said macroeconomists mainly, and increasingly, support Obama. Economic policy is the pond within which we (corporate and individual) fish swim.
You're going to lose, because you so richly deserve it. Let it be a learning experience for you. Start by moderating your language, but, more importantly, get smart. It'll make you (including Juan) a better American. You are simply wrong about Glass-Steagall's repeal, among other things. Clinton signed it, but Greenspan and the GOP leadership had long lobbied for it.
"Alan Greenspan has proclaimed himself 'shocked' that 'the self-interest of lending institutions to protect shareholders equity' proved to be an illusion... The Reagan-Thatcher model, which favored finance over domestic manufacturing, has collapsed. ... The mutually reinforcing rise of financialization and globalization broke the bond between American capitalism and America's interests. ...we should take a cue from Scandinavia's social capitalism, which is less manufacturing-centered than the German model. The Scandinavians have upgraded the skills and wages of their workers in the retail and service sectors -- the sectors that employ the majority of our own workforce. In consequence, fully employed impoverished workers, of which there are millions in the United States, do not exist in Scandinavia." - Harold Meyerson, "Building a Better Capitalism", The Washington Post, March 12, 2009.
The battle is an old one. William Jennings Bryan's 1896 speech contains a template for conflict between democracy and the rich. Inserting any policy the rich seek mainly in their own interest (here bank deregulation) will show it.
"There are two ideas of government. There are those who believe that, if you will only legislate to make the well-to-do prosperous, their prosperity will leak through on those below. The Democratic idea, however, has been that if you legislate to make the masses prosperous, their prosperity will find its way up through every class which rests upon them."
"When you come before us and tell us that we are about to disturb your business interests, we reply that you have disturbed our business interests."
"We say to you that you have made the definition of a business man too limited in its application. The man who is employed for wages is as much a business man as his employer; the attorney in a country town is as much a business man as the corporation counsel in a great metropolis; the merchant at the crossroads store is as much a business man as the merchant of New York ... the miners who go down a thousand feet into the earth, or climb 2,000 feet upon the cliffs, and bring forth from their hiding-places the precious metals to be poured in the channels of trade, are as much business men as the few financial magnates who, in a back room, corner the money of the world."
"If they dare to come out in the open field and defend bank deregulation as a good thing, we will fight them to the uttermost. Having behind us the producing masses of this nation and the world, supported by the commercial interests, the laboring interests, and the toilers everywhere, we will answer their demand for bank deregulation by saying to them: You shall not press down upon the brow of labor this crown of thorns; you shall not crucify mankind upon a cross of gold."
Tumultuous acclaim wasn't enough; Democrats could not overcome being outspent over 23 to 1 by the GOP. In a close vote McKinley won, which is perhaps good: When he got shot, Teddy Roosevelt became President, but Paul Ryan is no Teddy Roosevelt.
T.R. was only the first of several distinguished war heroes who rose to high position and found an octopus in the head of government and tried to warn us about it(see link under my name). Maj. Gen. Smedley Butler (Commandant of the Marine Corps, two Congressional Medals of Honor), Dwight Eisenhower, and John Kerry are others.
"There is...an artificial aristocracy founded on wealth and birth, without either virtue or talents.... The artificial aristocracy is a mischievous ingredient in government, and provisions should be made to prevent its ascendancy." - Thomas Jefferson
mooo...
..."You're going to lose, because you so richly deserve it. Let it be a learning experience for you. Start by moderating your language, but, more importantly, get smart. It'll make you (including Juan) a better American."...
(kinda preachy, isn't it, for you to speak this way?)
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With all due respect, what are you arguing for, exactly? That a Wm, Jennings Bryan of today would be a good president, or a T. R., or perhaps even a Thomas Jefferson, each with a more modern attitude and presentation? (Invoking famous persons' quotations doesn't seal your argument, whatever it may be.) re: Jefferson's quote: we don't have an aristocracy, or haven't at least until now in this country, even with the imperial-acting Obama, as Jefferson was speaking of the idle rich of his day, who descended from wealth and privilege and maintained political power as their birthright. The vast majority of wealth created in this country was achieved by hard work and smart investing; there are approximately 60K households in America with a net worth of $20M or more (IRS and Fed stats as of 2010) who pay the vast majority of tax, percentage-wise. With an ever-encroaching big government that you and Mr. Obama's other acolytes seem to argue for, we're not going to continue to be the country that offers the opportunity to become wealthy on our own. And what's wrong with that...most Americans see that as a worthy goal? That is my concern and that shared by the majority of independents who self-identify as center-right. Wealth creation isn't for sissy-wannabe philosophers of the Marxist/collectivist persuasion who want coddling and direction by the nanny state. I hope half the country wakes up from their magical thinking that 'hope and change' is their destiny.
Also, it helps if you give direct attribution (consistently) to those whom you quote to make your...'argument'.
Obama did not create the actual deficit, ok, blame on Bush. Reagan had the same bs and in one year fixed the problem.
Ronald had good people around him, but my concern is that 50% of the country wants a socialist system/government.
In other word, we are becoming a lazy and lefty country. Watch out USA!!!, pretty soon we'll part of Fidel, Ortega, Correa and Chavez team in the Americas !!!
I think most people here would reconsider, if they read the article "The Best Presidents for the Economy" linked under my name, at The Motley Fool.
Wow, corporate profits grew the most under Obama: 77.9% and he is number 4 for stock market performance at 15.2%.
Now why aren't the investors here more in favor of him?
OBAMATH, working its magic.
If it weren't for stimulus grants and the shakers borrowing money for 0.001% along with the Fed buying Junk Bonds by the trillions, the markets would be stagnant or worse. We now have about 30 trillion dollars of debt which ultimately falls on the taxpayers through higher taxes and inflation.
More financial/economic illiteracy on display in your comments...The Fed is responsible for the stock market rally with its unprecedented monetary stimulus...QE to infinity, negative real rates, etc. But we don't require people in this country to understand any of this; rather, just listen to the MSM and the political demagogues and don't think for yourselves...we'll do it for you. That way we can twist arguments on important issues so that the wrong people get elected...like the current occupant of the White House and his minions. Stop and think for a moment: what is your argument (if you have one) for the causal relationship between your claim and the outcomes you have heralded for the president.
I thought so.
Sure is nice that some people never have to balance a budget or live within their means. This is what happens when we select someone we don't really know for a political office. How many dollar bills go around the earth to pay for a 16 trillion dollar deficit? Hey grandkids, guess what we are leaving for you. It was nice while it lasted! Thanks for picking up the check. All law suits should be filed with the Court System which disciplines politicians! Good luck getting your fair share!
Elect someone u don't know? So, r u saying u know Mitt Romney? Stop your retard#d conservative bull Sh#t. Obama did not create that deficit, that's what happens when u give tax cuts while engaging in 2 wars. But this simple logic doesn't get through your thick skulls.
webknight brings home the point. How easy it is to forget about the obvious fact that this economy is in shambles from a rash of abuses by bankers and soveriegns tracking over the past 30 years for crying out loud. The present Republican Party is responsible for this fiscal cliff that they have created thru a "hate mongerisim" that has divided a Country that is so Proud to call itself "The United States of America"! My take is Romney and his Party have become exposed for the frauds they are and they should be ashamed (and not elected).
Oh, but the Democrats didn't divide the country by passing a multi-trillion health porkulous without reading it, that had NO Republican support. The good ole Democrats inciting the poor against wage earners with class warfare because they know they have no way to pay for this porkulous bill. Hey A-hole, Republicans didn't repeal Glass-Steagall, and they didn't write the Commodities and Futures Modernization act, nor did they come up with the homes for the poor program, all of which deregulated the derivatives market. This country is no longer the United States of America because you liberals have divided & destroyed it with your incessant demand for socialism. So yes for every Democrat that HATES a Republican, there is a Republican that HATES a Democrat just as much!! The difference is that we have to pay for your sh!t.