Blogs For Bush - The October Jobs Surprise

Blogs For Bush

I can assure you; if Kerry had won, he would be getting the credit today.....

"Things are looking good everyone... Today, the Bureau of Labor Statistics announced that 337,000 new payroll jobs were created in the month of October... This exceeded market expectations!

Highlights of the BLS Report include:


During the month of October, 337,000 new payroll jobs were created. Since August 2003, 2.3 million new payroll jobs have been created. Payroll employment has now increased for 14 consecutive months.

Employment gains for August and September were revised upward by a total of 113,000 jobs.

The unemployment rate edged up to 5.5 percent in October. However, the unemployment rate is well below last year's peak of 6.3 percent, and below the average unemployment rates of the 1970s, 1980s,and 1990s.

On average this year, roughly 200,000 new jobs have been created each month.

Reuters also notes that October saw the strongest job gains in seven months...

New U.S. jobs soared at the sharpest rate in seven months in October, the government reported on Friday, helped by a surge in construction activity as hurricane-battered areas in the Southeast were rebuilt.

A surprisingly strong 337,000 jobs were added to payrolls last month -- twice the 169,000-job growth that Wall Street economists had forecast and the strongest since March when 353,000 jobs were created, the Labor Department said.

Still, the unemployment rate edged up to 5.5 percent from 5.4 percent in September, but that was because more people joined the search for employment, a potentially hopeful sign.


The next four years are going to be great!"