The October jobs report was excellent:
“The nation’s unemployment rate dropped to 6 percent in October as companies added thousands of new jobs for the third straight month, new evidence of an improving labor market.
“The Labor Department (news – web sites) reported Friday that payrolls grew by 126,000 last month, significantly more than the 50,000 new jobs that economists had predicted. That followed a revised 125,000 new jobs in September, which initially was reported at 57,000.
“U.S. companies also added new jobs in August, marking three months of hiring gains following a sixth-month slump.”
The good news seems to be leaking out, as the latest Gallup poll shows 53% saying the economy is improving, and only 21% rating the current economy as “poor.”
BIG TRUNK adds: See also the excellent column on the subject of job creation by Michael Cox and Richard Alm in today’s New York Times: “The great job machine.”
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