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Friday, November 2, 2012

November Jobs Report Out

I've had to warn, every month, that despite the media and political hype, the monthly U.S.  jobs report never seems to move the polls.  But here's this month's, just out at 8:30 a.m.:

Unemployment up  slightly from 7.8% to 7.9%,  with 171,000 jobs added, a nice number (beating expectations), plus more than 80,000 gained in revisions to previous months.  August revised up from 142K to 192K, September revised up from 114K to 148K.

Now awaiting how these numbers "cooked."  One of the wingnuts' claims:  those August and September numbers would be revised downward now.  Whoops.  But the Romney camp will no doubt now claim that unemp "rising again."  Obama folks can point to it staying under 8% along with the jobs added.

BTW, numbers show unemp rose because 578,000 joined the work force, countering another GOP argument that so many are exiting.

Ezra Klein:  "This jobs report is good, but it won't change the race. Which is as it should be."Business Insider: "Markets jump on jobs report."  Felix Salmon: Guess Wall St. wants an Obama win, after all.

1 comment:

Laurence Glavin said...

I live north of Boston, and President Obama will be appearing in New Hampshire Sunday. There's an all-Beethoven concert Sunday afternoon featuring Boston-area highly-regarded pianist Max Levinson with the Andover, Mass Chamber Music Society.. I've submitted an email request to see the President. The event will be in Concord, NH. If I get a ticket via email to go to the rally, will I also be able to get back to northern Massachusetts for the Beethoven concert? Well the weather report is for sunny skies so traffic should not be a problem (NH may actually get snow in a few days).