U.S. Unemployment Rate Rises to 7.3% in Shutdown-Skewed October; 204,000 Jobs Added

[onehandle]

Source: New York Times



The American government shutdown was barely evident in the October jobs report Friday, as private employers added positions at an unexpectedly robust pace.

Employers added 204,000 workers to their payrolls, the Labor Department reported, while the jobless rate rose to 7.3 percent from 7.2 percent in September, reflecting the impact of temporarily furloughed federal workers.

The report, which was delayed by a week because of the shutdown, was especially tricky to predict simply because economists did not know how much of a swing the shutdown would cause.

Indeed, there was a wide range of estimates from economists ahead of the report. The consensus, according to Bloomberg News, called for an increase in the unemployment rate to 7.3 percent, with payrolls growing by 120,000.


Read more: http://www.nytimes.com/2013/11/09/business/economy/us-unemployment-rate-rises-to-7-3-204000-jobs-added.html

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[font size="5"]MISSION ACCOMPLISHED[/font] 

[Berlum]

1. "Ha ha. Tuff noogies." - RepubliBaggers (R)

[Dawgs]

2. Actually, I think this helps the GOP the next time they want to shut down the government.

[hoosierlib]

3. Its already being by local Repukes

The stand in host of the Garrison Show is claiming the high numbers are because of the shutdown...un fucking real...

[Coyotl]

4. Make that "Republican Mission Accomplished!"

[fasttense]

7. Well not quite mission accomplished the Rupukes have not completely

destroyed the economy yet, but they have managed to keep the unemployment rate high.

Remember they ran on, Mr. President, "Where are the JOBS?"

Even though they have done everything in their power to stop the economy from growing they have failed miserably !

[Hestia]

5. Robust!? Robust!? 8 million jobs were shed in 2008-2010 and we are nowhere near getting those

fellow citizens gainful, whole, productive, full-time employment. Robust - pshaw...

[BlueStreak]

6. Another article. Notice the revision upward from in previous month

http://www.bloomberg.com/news/2013-11-08/job-growth-beats-forecasts-as-u-s-weathers-shutdown-economy.html

We need a little over 100,000 jobs created each month to match the growth in population. So last month's revised figures are actually relatively strong, and this month's are very strong -- one of the best months in the recovery so far.

Yes, at this rate it will take another 4 years of similar growth to rebuild what the Bush economy destroyed. But we have never added millions of jobs all at once. If we can maintain job growth over 200,000 a month, the economy will build on itself.

This is completely consistent with this week's report that GDP growth is nearly 3%. That is a sustainable level, and at that rate, deficits will continue to come down without ANY further concessions to austerity. That is a message that needs to be repeated often and loudly.

[SoFlaJet]

8. Damn and I was looking forward to Boener showing up

with his patented "Where are the jobs Mister President?" like he did after every jobs report. I guess they don't have to roll him out of the bar like Peter O'Toole in My Favorite Year