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Triana

(22,666 posts)
Fri Dec 5, 2014, 11:29 PM Dec 2014

Remember when "Obamacare" was going to crush the job market? [View all]

[size=28]U.S. job growth soars, tops 300k[/size]

Any Republicans asking “where are the jobs?” today should probably have their heads examined.

The new report from Bureau of Labor Statistics shows the U.S. economy added 321,000 jobs in November. The overall unemployment rate stayed at 5.8 and remains at its lowest point in over six years.

Once again, public-sector layoffs did not drag down the overall employment figures. Though jobs reports over the last few years have shown monthly government job losses, in November, the private sector added 314,000 while the public sector added 7,000. The latter may not sound like much, but after several years in which that total was negative, it’s at least somewhat heartening.

As for the revisions, all of the news was excellent: September’s totals were revised up from 256,000 to 271,000, while October’s figures were revised up, from 214,000 to 243,000. Combined, that’s an additional 44,000 jobs.

All told, this is one of the best jobs report Americans have seen in many years. There were some spikes in early 2010, but those were largely the result of temporary Census hiring, while this new data points to genuine, robust job growth. It remains very difficult for President Obama’s critics to explain these numbers: the hiring boom is underway after tax increases and full implementation of the Affordable Care Act.



THE REST:

http://www.msnbc.com/rachel-maddow-show/us-job-growth-soars-tops-300k
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