October jobs report crushes expectations

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NEW YORK — The job market regained momentum in a big way in October.

The U.S. economy added 271,000 jobs in October, far better than sluggish gains in September and any forecasts.

The unemployment rate fell to 5%, its lowest level since 2008.

Before Friday’s good job news, the concern had been that the global economic slowdown was starting to affect hiring in the United States. Job growth has slowed down considerably since July.

But Friday’s strong number tones down those fears — for now.

Wage growth showed signs of life too. Average hourly earnings rose 2.5%, its best pick up in years.

The solid jobs number has major implications for the Federal Reserve. Its officials, led by Chair Janet Yellen, are strongly considering raising interest rates in December for the first time in almost a decade. Rates have been at zero since the financial crisis in 2008.

Today’s better-than-expected report increases the odds the Fed will act in December.


  • Jordan Parker

    More than likely most of them are part time jobs for the upcoming Christmas shopping season. And, if following true to form, the numbers will probably be revised downward in a few short weeks.

    The truth is this: So many people have given up, retired early, taken fictional disability, and run out of government benefits that they just quit applying for unemployment benefits.

    Meanwhile, costs for the average family have risen—my own health care insurance costs doubled (mine is up to $550/month… contrast this to my $25/month auto insurance from Insurance Panda… or my $10/month renters insurance… both private-enterprise!).

    320 million people in the country. 94.5 million not in the labor force. 5% unemployment. Don’t you just love government math?

    • AliciaMOsborne

      Read Now….my best friend’s mother-in-law makes $66/hr on the internet ~.. She has been unemployed for 8 months but last month her pay check was $15769 just working on the internet for a few hours. Read more here➜➜➜➜➜➜► Click~Here~To~Read~More

  • Twisting the truth

    While unemployment benefit payouts (unemployment) may have declined, the truth is many unemployment benefits have run out or people may simply not be eligible who are unemployed. Cheap gas prices have been propping us up so far. Now that OB is on his way out and the Democrats know they will lose, actions to initiate economic decay and civil unrest are being put in place so the democrats will have a better chance at a president 3 years from now, after the republicans get blamed for this.

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